1. When should a business entity register with SARS?
As soon as the entity is registered with CIPRO/CIPC and received a registration number it becomes mandatory to register with SARS.
2. What if the business trades as a sole proprietor?
The owner should then register as an individual taxpayer if not already registered. If already registered the business need not to register for a separate income tax number as all income must be declared in the owner’s personal capacity.
3. Is this the same as a VAT registration?
No, this is often confused but Income Tax Number and VAT number is two totally different tax types. Income tax registration is compulsory where as VAT registration depends on quite a few factors. The business must however be registered for income tax before a tax clearance or VAT number can be applied for.
4. What happens after the entity has been registered for income tax?
The entity will automatically be registered for provisional tax. Provisional tax returns must be submitted twice a year where applicable. Income tax returns must also be submitted annually. Proper recordkeeping must be done and the use of professional accountant in this regard is strongly recommended.
5. When will I receive the tax clearance certificate?
If you selected the option to receive a tax clearance certificate, it will be posted via priority mail to the client as soon as the entity is registered for income tax. This tax clearance is valid for a year.
You have to be a registered user to submit the form below.
Registration is free and will take 1 minute.
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Please note : A CC refers to a Close Corporation and a PTY to a Private Company.
What does it mean to register a CC/PTY for income tax?
1. How does it work? Step 1 - fill in the form below.Step 2 - pay the R650 (R850 if tax clearance is also needed) online via credit card or any other way.
2. What is the turnaround time? The turnaround time to register a CC/PTY for income tax purposes is 10 -21 working days after we have received all documents from the client. If you selected to obtain a tax clearance as well 10x original certificates be couriered to you within 5 working days after the CC has been registered.
3. Documents needed
- Latest original bank statement (please make sure the statement is stamped by the bank - original stamp, the bank statement is in colour) OR an original letter from the bank (stamped by the bank) confirming the CC's bank details.
- The registration document (CK1/CK2/CM1/COR 14.3) of the CC/PTY.
- Certified Copies of ALL the member/director(s) ID's of the CC/PTY
- Download the Power of Attorney form at the bottom of this page, complete and send to us.
These documents must be posted to PO Box 28845, Danhof, 9310 after you have completed the online form below.
This service has a cost that is dependent on the various items selected. Your price will show here: R 650.00.