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Incorporating a company is the start of an ongoing set of obligations. Missing them leads to penalties for the company and its officers, and problems when you later need a bank loan, an investor or a tax clearance. This checklist covers a typical private company with a 30 June year end.
The annual cycle with SECP
- Prepare financial statements under the framework that applies to your company — see which framework applies.
- Statutory audit, where required, by an ICAP-registered audit firm.
- Board meeting to approve the financial statements and call the AGM.
- Annual General Meeting within 120 days of the year end (for a 30 June year end, by late October). Single-member companies follow simplified procedures.
- File the financial statements with the registrar within the period allowed after the AGM.
- File the annual return within 30 days of the AGM — or, where nothing has changed since the last return, check whether the section 130(5) relief applies and whether you must notify the registrar instead.
Throughout the year
- Notify SECP of changes in directors, officers, registered office and share capital within the prescribed time
- Record share transfers and allotments, and file the returns that go with them
- Keep statutory registers current: members, directors and officers, beneficial owners, charges
- Record board and shareholder decisions in signed minutes
- Update beneficial ownership information when it changes
Tax obligations that run alongside
- Monthly sales tax returns (generally payment by the 15th and return by the 18th), if registered
- Monthly provincial services tax returns, if registered with PRA, SRB, KPRA or BRA
- Withholding tax deposits and periodic withholding statements
- Quarterly advance tax instalments
- Annual income tax return — for a 30 June year end, by 31 December
Keep it simple: our tax and compliance calendar shows the next recurring deadlines with live countdowns, and you can add any of them to your own calendar in one click.
Prefer not to track it yourself? Our corporate secretarial practice can run the full calendar for you — board and AGM minutes, resolutions, registers and SECP filings. Corporate law and secretarial compliance.
Veridian Partners — Knowledge BankWritten by the founding team of Veridian Partners as part of our technical publication programme. Questions about this guide? Contact us.
This guide is general information based on the law as we understand it on the date shown, not advice for your situation. Tax rules change often — please speak to us before acting on it. See our disclaimer.