COMPANY REGISTRATION We have fast turnaround times (done in 3 to 4 days) Private Company, Close Corporations (CC) and NPC Non-profit Compan
SAIBA said it correctly “Accountants make business better“ Accountants do books, tax and compliance. But SAIBA designated members do so much more. They are trusted business advisors. Improving your accounting systems, controls and providing strategic business advice. Being an entrepreneur and starting your own company is both thrilling and intimidating. You will need someone on your side to do the laborious process for you. A registered business allows you to create a separate business banking account. You will receive a separate income TAX number as well, another great way to keep your personal matters outside of your business. Legislatively, companies are mandated to keep records and statutory books within the limits defined by the Companies Act. Mvano-yethu can help you satisfy these obligations. Through range of services, we provide. Our services are available for below institutions and for natural person accounting and compliance matters. Sole Proprietorship A sole proprietorship is a business that is owned and operated by a natural person (individual). This is the simplest form of business entity. The sole proprietorship is not a legal entity. The business has no existence separate from the owner who is called the proprietor. The Sole Proprietor is not a legal entity. The Sole Proprietor uses his/her own money and assets and assumes the risks of the business dealings. The Sole Proprietorship does not have to be registered at CIPC. The sole proprietorship is not a legal entity. The business has no existence separate from the owner who is called the proprietor. The owner must include the income from such business in his or her own income tax return and is responsible for the payment of taxes thereon. The Sole Proprietorship is not registered as a company at SARS. The employees are required to be registered at SARS and depending on the tax tables, then you will be required to pay over the Pay As You Earn (PAYE) taxes. Partnership In South Africa, a partnership includes two or more partners that enter and run a business. A partnership can have a maximum of 20 partners. They’re easy to set up and relatively inexpensive. You will need to prepare a partnership agreement before registering a partnership. As with the sole trader, a partnership has no limited liability, and its profits are included in the taxable income of the partners and taxed at their respective tax rates. Company A private company is treated by law as a separate legal entity and must also register as a taxpayer in its own right. It has a life separate from its owners with rights and duties of its own. The owners of a private company are the shareholders. The managers of a private company may or may not be shareholders. Close Corporations (CC) A CC is similar to a private company. It is a legal entity with its own legal personality and perpetual succession and must register as a taxpayer in its own al and therefore no shareholders. The owners of a CC embers of the CC. Members have a membership interest in the CC. Non-profit Organisation NPO’s All NGOs are required to file income tax under Section 12A. If in some cases, the total income does not fall within the chargeable tax income category, the NGOs can benefit from exemptions of income tax. if you earn less than R83,100 annually (less than R128,650 if you're older than 65, or less than R143,850 if you&# 39;re over 75), you don't have to pay income tax. An NGO must maintain accurate records of employees and proper books of accounts, and file tax returns every year. To obtain a tax exemption certificate, a NGO applies manually for a tax clearance certificate at the integrated tax office where it is registered and files its tax returns.
106 Clark Road, Berea, DurbanSouth Africa
info@mvanoyethu.co.za
