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Companies tax

In addition to filing the annual accounts with Registrar of Companies, you must also file them with SARS within a certain time frame, together with a companies tax return which includes a companies tax computation.

Companies must submit their returns within 8 months from the date on which their financial year ends or such accounts are drawn up. A taxpayer may apply for an extension for the rendition of a tax return at the relevant SARS office.

From the information furnished in the tax return, SARS raises an assessment showing the tax due or refundable, as the case may be, for that year of assessment.

You will also need to register for other taxes as applicable, for example STC, VAT, Customs tax etc.