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CIPC: SARS non-compliance notices
- 27 October 2023
- Tax
- South African Accounting Academy
The notice issued by SARS is based on tax compliance, and not the same compliance required by CIPC, for the filing of Annual Returns.
Although compliance with the two institutions is necessary and are co-related to some extent, they are however independent in that:
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Annual Returns and the required AFS or FAS and Compliance Checklist MUST be filed with the CIPC before or by the companies or close corporation anniversary date.
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Tax filing must be filed with SARS at the stipulated date, for specific tax compliance obligations.
To confirm the status of an enterprise on the CIPC register, go to https://bizportal.gov.za / login / select Services / BizProfile / follow prompts.
If outstanding Annual Returns with the CIPC, and the entity’s business is conducting business or will be conducting business in the near future, then kindly comply.
Link for how to video below: https://www.cipc.co.za/wp-content/uploads/2023/07/CIPC-AR-Filing-drive_Mobile-480P.mp4
If outstanding Annual Returns with the CIPC, and customers wish to deregister their business, it may be finally deregistered shortly by the CIPC due to non-compliance with Annual Returns.
Compliance with SARS tax requirements can be confirmed or verified through the SARS EFiling website, or by contacting the SARS contact center on 0800 00 7277. Compliance with income tax matters is dealt with by SARS.
Click here to download the CIPC Notice:
https://www.cipc.co.za/wp-content/uploads/2023/10/Customer-notice_SARS-NON-COMPLIANCE-NOTICES.pdf
Relevance to Auditors, Independent Reviewers & Accountants:
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The Companies Act is yet another piece of legislation that your clients must comply with, and which you must assess compliance with. Suppose they don’t comply with the relevant laws and regulations. In that case, you have certain reporting obligations in terms of NOCLAR (Non-Compliance with Laws And Regulations) – this could include reporting to management, qualifying your audit opinion, reporting a Reportable Irregularity, etc.
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As an auditor, independent reviewer and accountant, you also need to monitor your client’s compliance with the Companies Act and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
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Where you perform these compliance tasks on behalf of your client, you need to ensure that you comply with all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.
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Company Secretarial staff play a critical role in bridging the gap between entities and CIPC. As legislation, regulations and tax law are continuously changing and evolving, it is of utmost importance for companies and company secretarial practitioners to keep abreast of such changes in so that companies continue to meet their compliance obligations.
Relevance to Your Clients:
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An entity (company or close corporation) has a duty to comply with the Companies Act, and all relevant notices/enforcements/practice notes/customer letters issued by CIPC as the regulator.