How To Register A Business For Tax In South Africa
Below is a list of documents needed to register as a taxpayer in SA or change your registered particulars. The law sees a company in the same light as a natural person.
Tax Registration As soon as you commence your business you are required to register with your local SARS office to obtain an income tax reference number.
How to register a business for tax in south africa. Ill ask you simple questions about your financial documents then prepare your Company tax return instantly with everything filled in right. This number tracks your business through the system. The two that apply to all businesses are Organisation Income Tax ITR14 and Provisional Tax IRP6 so choose those two at the least and any others that.
Proof of bank details. Select and complete the details of your business as shown below. The Department of Trade and Industry DTI has launched the pilot phase of a new business website which aims to significantly improve the ease of doing business in South Africa.
Tell me a bit about your Company and Ill show which TaxTim package and price suits your needs best. About Press Copyright Contact us Creators Advertise Developers Terms Privacy Policy Safety How YouTube works Test new features Press Copyright Contact us Creators. Followed by the Online Application FormThe first step is to register your company at the CIPC with one of our consultants.
Whether youre based in South Africa or have a branch in the country. Register as taxpayer Every business liable to taxation under the Income Tax Act 1962 is required to register with SARS as a taxpayer. Ultimately you will receive a VAT registration number which establishes you in the South Africa tax system as a legal business.
When a company is registered without a reserved name its registration number automatically becomes the company name with South Africa as the suffix. What Documents Do I Need To Apply For A Tax Number At SARS. Do you need a local tax representative.
You can register a company as a non-profit company or profit company with the Companies and Intellectual Property Commission CIPC. Link is external and file. Once you have been registered for tax and given your tax number you can register for eFiling on wwwsarsefilingcoza.
You must register within 60 days after you. Then SARS assesses your business tax return in a similar fashion to personal income tax. The convenience of business registration South Africa is that you can do it online or in person at the designated terminals.
A company is a legal person which has capacity and powers to act on its own. To choose tax types that you want to be able to file returns for click the check box to the left of each option and type in the tax number for your business and your tax office of choice. Filing Taxes Online SARS eFiling System in South Africa.
All companies registered under the ordinary small business tax system are required to pay tax using the provisional tax method which spreads out the tax liability over the assessment period. Once completed click on Register. How many employees you have.
All South African companies are required by law to be registered at the South African Revenue Services SARS for income tax. And then you should click on the Register New button on the left of the screen. Firstly in order to pay business tax in South Africa you must register your business or yourself as a taxpayer.
SARS requires you to provide them with several legal documents before you start the tax number registration process. The taxes you pay the tax credits you receive plus the tax you charge from customers. A company can be registered using Form IT77C.
You can register once for all different tax types using the client information system. This is the quickest way to register a company. Tick the System Default box and click on Continue.
Have a chat with me online. We offer the following services. Once you receive your tax registration number you can register to file your tax returns online using the SARS eFiling system.
Such a company may transact with a trading business name or. How Do I Register As A Taxpayer In South Africa. The CIPC self-service terminals are located in Pretoria Johannesburg Pretoria Cape Town or at an authorized bank like First National Bank FNB.
This system requires at least two amounts to be paid in advance and calculating. You can file your company income tax return via eFiling or at a local SARS branch. You can apply here.
The business tax return form in South Africa is the ITR14. More info on each service are listed below. EFiling is convenient option allows you to submit your returns.
Register for a TaxTim account.
