Is your current financial accounting system keeping you compliant?
The consequences of a business not being compliant are huge. Not being compliant, not only mean you don’t get a tax clearance certificate from SARS or a letter of good standing from Compensation Fund.
It has a serious domino effect – you incur penalties and interest, you will not be able to tender for a project, the bank will not approve your loan, just to name a few.
The end result is you lose out on money, big time! Are you losing money due to your books not being in order or up to date?
However, you can change all this and the best part is it’s all in your hands.
Below is a summery of important deadlines in business. By sticking to these*, you keep will keep your business compliant.
If your financial house is not in order, don’t adopt the head-in-the-sand approach, the problems will not go away. There is a remedy.
- Do you know that you can approach SARS, to enter into an agreement for a tax reduction or writing off of outstanding taxes or waiver penalties?
- Do you know that installment payments can be arranged with SARS for long overdue taxes?
- And if you failed to submit returns in time, do you know you can lodge a Notice of Objection or Appeal?
If you don’t want to lose more opportunities or money in business, get some help in getting your taxes in order and getting you compliant. Contact us at The Tax Hub.