Register Incorporation South Africa

What is an Incorporation?

A Incorporation is basically the same as a private company which we know as Pty Ltd. However the Incorporation are exclusively used to register professionals such as accountants, lawyers and practises.

Do you have to register your Incorporation for Income Tax number?

No, you will receive a Income Tax number automatically from Cipc.

Will I receive a Tax Clearance when I register an Incorporation?

No, In order for you to obtain tax clearance you will have to apply for a tax clearance with South African Revenue Service (SARS). Remember when applying for the tax clearance you have to open a business bank account at South African Revenue Service (SARS) they will require the business banking details. They will also need the income tax number for the company which was issued to you when your companies registration was done.

Must you apply every year for a tax clearance certificate?

Once you receive your tax clearance certificate weather you did it yourself or you had a professional company assist you to obtain one. Your tax clearance certificate will be valid for one year. Remember tax clearance certificate is mainly to say that your company are clear from all taxes.  

Can I apply for a bee certificate or bee affidavit for the Incorporation?

Yes you certainly can. All companies with a turnover of less than R50 million per year can use a BEE affidavit. Companies with an annual turnover of more than R50 million per year need to apply for BEE certificate. 

Does the bee certificate or the bee affidavit last forever or does it have to be renewed?

No unfortunately It does not last forever. The bee certificate or the bee affidavit has to be renewed every year.  

Can there be amendments done on the Incorporation after It has been registered?

Yes definitely once the company has been registered various changes can be done on the incorporation.

Will I be able to apply for a Vat number once my company is registered?

In order for you to register for a Vat number your companies turnover should exceed R50 000 per annum.