What is the purpose of the compliance checklist? The CIPC will, effective 1 Jan 2020, make the compliance checklist compulsory for all companies. According to the CIPC, the compliance checklist was introduced: To ensure compliance of the mandatory requirements of the Companies Act To serve as an educational tool for company directors and secretaries in
It goes without saying, there are thousands of software and Business Apps available on the market and on the internet. Additionally, each accounting software may also come with a thousand business apps on their various app market place. So, one has to choose carefully before adopting a piece of software. Not everything that looks cool
The office of the Tax Ombud was established to act as a bridging gap between SARS and the taxpayer. But, taxpayers do not always have a direct line to connect with the Tax Ombud. A taxpayer may lodge a complaint with the Tax Ombud after they have exhausted all the SARS complaints mechanisms unless they
According to statics, 50% of small businesses fail within 24 months of launch. According to research and report by the UWC, between 70% and 80% of small businesses fail with 5 years. This is a significant number of small business that fails. The consequences of this to the economy and unemployment are significant. But what
What we have seen now is increased scrutiny of credit notes for compliance with the VAT Act. The main challenge is that in most instances accounting packages being used by businesses do not contain all the information required on a credit note by the VAT Act. It is therefore important that businesses and accountants ensure that credit notes comply with the Act before they are issued and before VAT claims are submitted. Otherwise, it will be difficult for businesses to get back their legitimate VAT claims.
While many will not take this seriously, there are many who have fallen victim to these seemly simple scam/fraud tricks. Therefore, I urge you to be vigilant at all time. Here are a few lessons from a personal experience.