Page 19 - Designing Ways 259

- Provisional Tax IRP6: Every company has to submit a bi-annual provisional tax return.
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- Provisional Tax IRP6: Every company has to submit a bi-annual provisional tax return. onal tax return.

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Every company has to submit a bi
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annual
ax IRP6
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This tax return simply is an educated estimate of the company’s profit every 6 months.
This tax return simply is an educated estimate of the company’
s profit every 6
This tax return simply is an educated estimate of the company’s profit every 6 months. months.
The first return is due 6 months before year end and the second return is due on the
The first return is due 6 months before year end and the second return is due on the return is due on the
The first return is due 6 months before year end and the second
year end. If provisional tax is over paid, SARS will refund you after you have submitted a

If provisional tax is over
year end. If provisional tax is over paid, SARS will refund you after you have submitted a d, SARS will refund you after you have submitted a
pai
year end.
final company tax return IT14. If you under pay provisional tax you will pay in the
final company tax return IT14.
final company tax return IT14. If you under pay provisional tax you will pay in the pay in the
If you under pay provisional tax you will

difference and possible penalties once the final company tax return is submitted.
difference and possible penalties once the final company tax re
difference and possible penalties once the final company tax return is submitted. turn is submitted.

- Provisional Tax IRP6: Every company has to submit a bi-annual provisional tax return.
Annual Submission Requirements:s: Every year on the anniversary of the company you have to submit
- CIPC Annual Return
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- CIPC Annual Returns: Every year on the anniversary of the company you have to submit Every year on the anniversary of the company you have to submit
submitted a final company tax return
applicable, by the last business day
This tax return simply is an educated estimate of the company’s profit every 6 months.
an annual return to CIPC. Failure to do so will ultimately lead to de-registration of your

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Failure to do so will ultimately lead to de
i
reg
an annual return to CIPC.
-
The following needs to be submitted on before the weekend or public holiday. IT14. If you underpay provisional
an annual return to CIPC. Failure to do so will ultimately lead to de-registration of your ration of your
The first return is due 6 months before year end and the second return is due on the
an annual or monthly basis; company. • EMP501 Bi-Annual reconciliation: tax you will pay in the difference
company. company.
year end. If provisional tax is over paid, SARS will refund you after you have submitted a
• VAT 201 Bi-Monthly: If your sales / The tax year is from 1 March to 28 and possible penalties once the final
final company tax return IT14. If you under pay provisional tax you will pay in the
turnover is greater than R1 000 000 Feb. The first period is 1 March to 31 company tax return is submitted.
There are many other returns like dividends tax, amongst others however the above is a
Aug and the EMP501 reconciliation gst others however the above is a , amongst others however the above is a
There are many other returns like dividends tax, amonThere are many other returns like dividends tax
within any 12 month period you have
CIPC Annual Returns: Every year on
•
difference and possible penalties once the final company tax return is submitted.
simple start to becoming compliant in running your business. the anniversary of the company you
simple start to becoming compliant in running your business. simple start to becoming compliant in running your business.
is due by 31 October. The second
to register for VAT. VAT payments

are due by the 25th day of the first period is 1 Sept to 28 Feb and the have to submit an annual return to
- CIPC Annual Returns: Every year on the anniversary of the company you have to submit
CIPC. Failure to do so will ultimately
month commencing after the end of
EMP501 reconciliation is due by
However, it is best to speak to a qualified registered accountant who can guide you through
it is best to speak to a qualified registered accountant who c
However, it is best to speak to a qualified registered accountant who can guide you through an guide you through

,
However
an annual return to CIPC. Failure to do so will ultimately lead to de-registration of your
the tax period, for businesses who
31 May. This is a reconciliation of
the requirements and advise you on tax structuring. lead to de-registration of your
requirements

the requirements and advise you on tax structuring. and advise you on tax structuring.
the

company.
company.
file their returns and make payments
PAYE, UIF and SDL paid compared
electronically. to IRP5s issued to employees.
• EMP201 (Monthly PAYE, UIF, • Company Tax IT14: Every company There are many other returns, dividends

There are many other returns like dividends tax, amongst others however the above is a
SDL): This is the submission of tax has to submit an annual tax return tax amongst others, however the above is
simple start to becoming compliant in running your business.
on employees’ salaries. The amounts
Warrick Hardman CA (SA) within 12 months of their year-end. a simple start to becoming compliant in
Warrick Hardman CA (SA) Warrick Hardman CA (SA)
deducted or withheld by you, the • Provisional Tax IRP6: Every running your business.
However, it is best to speak to a qualified registered accountant who can guide you through
employer, must be paid to SARS company has to submit a bi- In addition, it is best to speak to a
www.xenith.co.za annual provisional tax return. This qualified registered accountant who can
the requirements and advise you on tax structuring.
www.xenith.co.za www.xenith.co.za
on a monthly basis by completing
the EMP201. You need to submit tax return simply is an educated guide you through the requirements and

your EMP201 and the payment, if estimate of the company’s profit advise you on tax structuring.
applicable, within seven days after every six months. The first return is Warrick Hardman CA (SA) dw
the end of each month. If the 7th due six months before year end and Warrick Hardman CA (SA)
falls on a weekend or public holiday, the second return is due at the year www.xenith.co.za
you need to submit your EMP201 end. If provisional tax is overpaid, www.iidprofessions.org.za
together with your payment, if SARS will refund you after you have www.xenith.co.za

dw • Issue 259 19