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Annual Returns to CIPC are due during the month following that of the anniversary of the date of Incorporation (nothing to do with the Financial year end). If returns are not submitted, the company or CC will be de-registered by CIPC. When that happens, we have to apply to restore (actually reversing the de-registration). This is now either impossible or a nightmare process including advertising in the newspaper and other demanding requirements. Only after restoration are we able to determine which Annual Returns are outstanding and then submit the outstanding returns and pay the late fees. CIPC charge a fee based…

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I am often surprised to find how little our clients understand their company’s tax and CIPC obligations, so here’s a brief explanation – The terms company and Close Corporation are synonymous in the discussion below. 1) All companies must be registered as tax payers. 2) They are all provisional tax payers and that means they must submit three tax returns each tax year regardless of whether they have traded or not. 3) The 1st provisional tax return is due 6 months after the beginning of the relevant tax year (end August 2016 for a February year end company). This is…

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