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Annual Returns for CC's

2009-09-07

All close corporations will become liable to lodge and pay annual returns as from 1 September 2008 as prescribed and regulated. CC's failing to comply can be deregistered by the Registrar.

What is the purpose of an Annual Return?
In keeping with legislation, the Registrar of Close Corporations needs to determine whether a registered organisation is still in business and to confirm the Registrar is in possession of the latest information of the close corporation, each close corporation is compelled in terms of the Act to lodge an Annual Return once every year.

When do I need to lodge the close corporation's Annual Return?
An Annual Return needs to be lodged within the anniversary month of its official incorporation up until the end of the month following its anniversary month.

What will happen if I fail to lodgement the close corporation's Annual Return?
Should a close corporation fail to lodge and pay for its Annual Returns for a period more than six months the Registrar may conclude that the close corporation is no longer conducting business and may refer it to be deregistered.

ALL REGISTERED CC'S WILL BE ABLE TO SUBMIT THEIR ANNUAL RETURN ON MYFINANCE-ONLINE.CO.ZA AS FROM THE 1ST OF SEPTEMBER 2008 AT A COST OF R295 FOR CC'S WITH A TURNOVER OF LESS THAN R50 000 000 A YEAR AND R4 450 FOR A CC WITH A TURNOVER OF MORE THAN R50 000 000. VISIT OUR SERVICES SECTION TO LODGE YOUR ANNUAL RETURN ONLINE.


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