 Company Deregistration’s at CIPC and Taxes Deregistration’s at SARS. Deregistering a company can be a significant step, and it’s essential to understand the processes involved with both the Companies and Intellectual Property Commission (CIPC) and the South African Revenue Service (SARS). Here’s a basic overview to guide you through the process: You can apply to have your company Deregistered at the CIPC when your company has been dormant or did not trade for a set amount of time. Or the CIPC will automatically start the deregistration process if your company has not submitted Annual returns for a few years, which makes your company non-compliant. Ensure that your company’s annual returns and tax returns are always up to date. supporting documents will be required from the CIPC to prove your company meets the requirements for deregistration. Something to keep in mind, is that it is a lengthy process, and it can take anywhere from 3 to 6 months to complete the process of deregistering your company. Deregistering a Company at SARS Income Tax Deregistration: It’s crucial to ensure that your business is deregistered for all tax products when you deregister your company, however, the CIPC deregistration process must be completed before you can proceed with your Tax deregistration’s at SARS as the two go hand in hand. You also need to ensure that your representative at SARS is up to date, this is the Person that represents the Company as the public officer of your Company at SARS. Without a valid Representative, SARS cannot assist you. You will also need to provide proof of your CIPC deregistration and that it has been completed, before you can proceed with your Tax deregistration, this way, SARS ensures that the company has ceased all trading and cannot continue at a later stage. Important Considerations Documentation: ensure that you have all the relevant documents required to proceed with your Deregistration applications, this will also assist in the time frames, to avoid a “back and forth”. Consultation: It is always best to consult with specialists in the field, to ensure a smooth and simplified procedure, as it can be ‘nitty gritty’ if all the requirements are not specifically met, this also ensure the desired outcome the first time around and can also shorten the timeframe significantly. |