Have you filed your income tax return for your company?
Towards the end of 2018, SARS issued a media release stating that administrative non-compliance penalties will be imposed on companies that fail to submit an income tax return as required under the Income Tax Act, 1962 (see link below).
What does this mean?
All registered companies, small or large, need to submit their income tax returns within 12 months of the end of the company’s financial year. This can be done on eFiling.
See link for more details
We assist our clients with tax related issues all the time. If you are unsure about your company’s taxes, email us at firstname.lastname@example.org