Who is the CIPC? The CIPC is the Companies and Intellectual Property Commission. They hold the register of companies incorporated in South Africa. What does the CIPC expect from me as a registered company? Company secretarial documents: File your company Registration...
Often mixed up and can be confusing to some, the difference between Gross Profit and Net Profit is easily explained and important to know. Sales – Direct Cost (cost of sales) = GROSS PROFIT Operating cost = NET PROFIT What is profit? Let’s start with what...
The tax created for micro businesses is called Turnover Tax, and it aims to assist smaller businesses to meet their tax compliance obligations. Rules for Turnover Tax To meet the requirements of Turnover Tax, your business would have an annual turnover of R1 million...
Here’s what VAT registered businesses should know: If you have a VAT number, you are now a VAT vendor. This means you are a middleman for SARS and you MUST charge and collect VAT from the customers with whom you do business. The VAT you collect must be paid to SARS...
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