The cost of closing a company
Sure, we only charge R475 to form a company, and R175 of that goes to CIPC in fees.
Maybe that’s why so many people don’t think twice about registering a company.
What they don’t consider is that if they do not use the company, then these are the costs –
Two nil provisional tax returns each year at about R650 each
Nil Annual Tax Return at about R700
Or R200 every month per return SARS Administrative Penalty for non-submission
CIPC Annual return about R1 000
Once off declaration of beneficial owners about R1 000
And then the whammy –
Cost of de-registration at CIPC R4 500
Cost of de-registration at SARS R3 500
So, think twice before you form a company. You need to be serious about going into business.