Must financial statements be filed with the annual returns?
Companies (except external companies) are required to either file its audited financials, reviewed financials or financial supplement with its annual returns.
All companies (except external companies) and close corporations, if it is required in terms of Companies Regulation 28 read with Companies Regulation 26 to prepare audited financial statements, must file such with CIPC at the same time of filing is annual returns via www.cipc.co.za / e-services / logon using customer code and password / transact / document upload / annual financial statements.
Companies and close corporations that is neither required to file its audited financial statements, nor voluntarily filed its audited financial statements or reviewed financial statements, must file a financial accountability supplement (CoR30.2) after filing its annual returns by completing the online form via the CIPC website www.cipc.co.za / Maintain Your Business / Financial Statements and Independent Review
Which set of financial statements should be used to determine the turnover of the company or close corporation for purposes of filing annual returns?
A company or close corporation must use its latest approved financial statements for purposes of determining the turnover for purposes of filing annual returns.
How do I determine the entity’s turnover?
Annual Turnover is referred to in table CR 2B – Commission Fee Schedule of the Companies Regulation 2011 and Schedule 1: Fees of the Close Corporation Administrative Regulations. Section 223 read with Regulation 164 of the Companies Act, clearly sets out what constitutes turnover and the method required to calculate turnover for the purpose of determining the correct annual return fee to be paid to the CIPC
Will CIPC provide notification of the pending deregistration?
Yes. During the deregistration process notifications are mailed to the company or close corporation’s registered postal address as per CIPC records, informing it of the intended deregistration and a request to either provide confirmation that it is still active or to file outstanding annual returns. At the time of notification, the company or close corporation’s legal persona is not yet removed. The notification only serves to inform the company or close corporation of the intention to deregister it, if no objection or filing of annual returns occurs.
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Did you know : International Scholarships 2024
There are several international scholarships available for South Africans to study abroad. Here are a few examples:
- Mastercard Foundation Scholarship Program: This program provides fully funded scholarships to study at selected universities in Africa, Europe, and North America. It is open to African students, including South Africans, who are committed to giving back to their communities.
- Commonwealth Scholarships: The Commonwealth Scholarship Commission offers scholarships for postgraduate study in the UK for citizens of Commonwealth countries, including South Africa. The scholarships cover tuition fees, travel costs, and a living allowance.
- Fulbright Foreign Student Program: The Fulbright program offers scholarships for South Africans to study at U.S. universities for a Master’s or PhD degree. The scholarship covers tuition, travel, living expenses, and health insurance.
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