Start Up Business

  • Company Formations

    • Name Reservations
    • COR14.1
    • COr14.1a
    • COr14.1d
    • COr15.1a – Memorandum of incorporation
    • Issuing of Shares
    • Resolutions
      • List Directors
      • The auditor
      • Date of incorporation
      • Authorized Shares
      • Number of shares issued
  • SARS Registration - Income Tax

    CIT is applicable (but not limited) to the following businesses which are liable under the Income Tax Act, 1962 for the payment of tax on all income received by or accrued to them within a financial year:

    • Listed public companies
    • Unlisted public companies
    • Private Companies
    • Close Corporations
    • Co-operatives
    • Collective Investment Schemes
    • Small Business Corporation (s12E)
    • Body Corporates
    • Share Block Companies
    • Dormant Companies
    • Public Benefit Companies

    Every business liable to taxation, under the Income Tax Act, 1962, is required to register with SARS as a taxpayer.

  • SARS Registration -Provisional Tax

    Companies automatically fall into the provisional tax system. Registered automatically when registering for Income Tax.

  • PAYE, UIF and SDL

    According to law, an employer must apply for registration with the South African Revenue Service (SARS) within 21 days after becoming an employer, unless none of the employees are liable for normal tax.

  • VAT

    VAT is an abbreviation for value-added tax. It is an indirect tax on the consumption of goods and services in the economy. Revenue is raised for government by requiring certain businesses to register and to charge VAT on the supply of goods and services. These businesses become vendors that act as the agent for government in collecting the VAT.It is mandatory for a business that earned income, in excess of R1 million in any consecutive twelve month period to register for VAT. A business may also choose to register voluntarily if the income earned, in the past twelve month period, exceeded R50 000.

  • Import and Export

    In order for traders to conduct business with SARS and foreign countries, they need to be registered. This includes the following:

    • Local Importer;
      All local persons who import (bring goods into) the Republic must register as an importer with Customs.
    • Local Exporter;
      All local persons who export (take goods out) of the Republic must register as an exporter with Customs.
    • Foreign Importer;
      All foreigners who import goods into the Republic must register as an importer with Customs and appoint a local registered agent to act on their behalf.
    • Foreign Exporter;
      All foreigners who export goods from the Republic must register as an exporter with Customs and appoint a local registered agent to act on their behalf.
    • Rebate User;
      Clients who register as rebate users are allowed to import goods without paying duties under certain conditions, i.e. for processing, manufacturing, and packaging with an intention of exporting them.
    • Manufacturer in terms of drawback;
      All local persons who import goods into South Africa should register if they wish to apply for a drawback (refund) after exporting goods on which duties were already paid. This applies to imported goods used in manufacturing of goods which are subsequently exported.
    • MIDP (Motor industry development programme);
      MIDP is an incentive programme for components imported under rebate item 317.04, 317.07 (light motor vehicle manufacturers) and 317.06 (component manufacturers) for home consumption. Anyone who imports components for use in terms of such provisions should register for MIDP for them to qualify for an incentive.
    • EDI (Electronic Data Interchange);
      SARS is legally mandated to enforce the use of Electronic Data Interchange for the submission of certain cargo and goods declarations and reports. Everyone doing business with SARS should register for EDI.
    • Automated Cargo Management System (ACM);
      SARS requires, in line with international practices, that cargo be reported to it prior to arrival for the purposes of screening and risk assessment. This is done electronically via SARS’s ACM system. It is mandatory for all cargo reporters submitting the following reports to be registered with SARS for ACM: Vessel schedules; Vessel arrivals; Manifests and Outturn reports.
    • Registered Agent;
      A registered agent is a person located in South Africa who has/is nominated to act as an agent of a foreign trader. They need to firstly register with SARS.
    • IDZ (Industrial Development Zone);
      An IDZ offers facilities for manufacturing, storage and distribution of goods in an area adjacent to an international harbour or airport, as designated by the Minister of Trade and Industry. Anyone who operates an IDZ must register with Customs.
    • Accreditation;
      Accreditation is an advanced programme which seeks to establish a partnership between SARS and compliant clients. Clients need to apply to be part of SARS’s accreditation programme
  • Department of Labour Registrations for:

    • UIF Contribution
      A compulsory registration according to law when becoming an employer
  • Workmen’s Compensation Registration

    A compulsory registration according to law when becoming an employer

  • Business Plans

    A written document describing the nature of the business, the sales and marketing strategy, and the financial background, and containing a projected profit and loss statement.
    A business plan is also a road map that provides directions so a business can plan its future and helps it avoid bumps in the road. The time you spend making your business plan thorough and accurate, and keeping it up-to-date, is an investment that pays big dividends in the long term.
    Your business plan should conform to generally accepted guidelines regarding form and content. Each section should include specific elements and address relevant questions that the people who read your plan will most likely ask.

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