Accurate Company Income Tax Returns for Full SARS Compliance

A Company Income Tax Return (ITR14) is the official annual declaration submitted to SARS showing a company’s income, expenses, tax liability, and financial position.

It is required for all registered companies, even if dormant.

All companies registered with CIPC must submit annual tax returns, including:

• Pty Ltds

• NPCs

• Trusts

• Co-operatives

• Foreign-owned companies

Even if no trading occurred, a return is still required.

• Annual Financial Statements

• Trial balance

• Supporting schedules

• Loan account details

• Fixed asset register

• Tax computation

Accurate documentation ensures compliance and avoids audit risk.

Returns are due annually within 12 months after the company’s financial year end.

SARS may impose penalties, issue estimated assessments, or block Tax Clearance.

Repeated non-compliance may trigger audits or legal action.

If SARS does not receive your return, they may issue an estimated assessment — usually higher than the correct amount — forcing the company to dispute or pay.

Yes. Dormant companies must still submit returns and indicate zero activity.

Company tax is generally 27% of taxable income.

NPCs and other entities may have special rules depending on their structure.

Yes, legitimate business expenses such as rent, salaries, marketing, travel, and depreciation may be deducted — provided accurate records are kept.

SARS may request supporting documents such as invoices, bank statements, payroll records, and contracts.

We handle the audit response and documentation.

Yes — if errors are found, the return may be amended within permitted timelines.

Not always. Size and public interest score determine audit or review requirements.

A scoring system used to determine whether a company needs audited or reviewed financials.

It considers turnover, employee count, liabilities, and shareholders.

Yes — provided they are correctly recorded and subject to PAYE.

Yes — capital gains tax applies to disposals of assets.

Companies must pay provisional tax twice a year, based on estimated income.

These payments reduce year-end tax liability.

SARS may charge interest and penalties.

Persistent late payment affects compliance and Tax Clearance.

Yes — assessed losses may be carried forward and used to reduce taxable income (subject to SARS rules).

Yes — if they operate or earn income in South Africa.

2–10 working days depending on complexity and financial data availability.