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There’s a lot of confusion about the meaning of Annual Returns to CIPC, Annual Tax Returns and Annual financial Statements, so let’s try to clear this up. Annual Returns to CIPC CIPC is the Companies and Intellectual Property commission. Every company and CC must submit two Annual Returns. One confirms the Directors (of companies), Members (of CCs), auditors, company secretaries with contact details of all of these together with the Registered Office Address. The other is a Financial Accountability Statement. An annual return fee is also payable (anything from R100 to R4 000). The return is due from the anniverary…

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Yes, there are circumstances which require that your company prepares Annual Financial Statements, so let’s take a look at the what, when and why. The banks require them if they’re going to lend money to the company. Any other lender will require them. They may be required for a large tender. So, if they are required, what form should they take and who will prepare them? Financial statements should always be prepared to International Financial Reporting Standards, otherwise you may as well not bother. Who should prepare your yearly financial statements? Any competent accountant who has the appropriate…

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