Company, tax and compliance terms with everyday examples and a useful next place to look.
44 terms
Reviewed 30 September 2026
The recurring CIPC filing that keeps the company or close corporation’s statutory registration information current. It is separate from a SARS income tax return.
Illustrative example: A company diarises its CIPC annual return and its SARS return as two separate tasks.
A resource the business controls because of past events, with the potential to generate economic benefits. Accounting recognition requires the applicable criteria.
Illustrative example: A delivery business records its qualifying vehicle purchase and keeps the supporting asset records.
Broad-Based Black Economic Empowerment, assessed under the applicable legislation and codes. The appropriate evidence depends on the business and relevant code.
Illustrative example: A business checks the applicable sector code before choosing its affidavit or verification route.
An entitlement connected to securities, such as receiving distributions, exercising rights or directing disposal, which may arise through more than direct ownership.
Illustrative example: An agreement gives a person the right to receive distributions associated with particular shares.
A natural person who ultimately owns or effectively controls a company, including through an indirect ownership or control arrangement.
Illustrative example: A person controlling a company through a holding company may need to be identified even though their name is not the direct shareholder entry.
A practical account of what a business intends to do, how it will operate and reach customers, and how its finances are expected to work.
Illustrative example: A founder tests sales assumptions and funding needs before presenting a plan to a lender.
Movements of cash and cash equivalents into and out of a business. These movements differ from accounting profit.
Illustrative example: A profitable business can still face a cash shortage while it waits for customers to pay.
National Treasury’s shared supplier information database, commonly called the CSD. A supplier record supports government procurement administration.
Illustrative example: A supplier updates its contact and bank details and reviews the verification results before a bid.
The level in a contractor’s cidb grading designation that determines its tender-value range. Grades 2 to 9 assess financial and completed-work evidence; Grade 1 has no such qualifying criteria.
Illustrative example: A contractor checks the required grade for a tender against its current registration.
The Companies and Intellectual Property Commission, the South African body that administers company registration and related statutory services.
Illustrative example: A business files a director amendment with CIPC after following the company’s required approval process.
The work category in a cidb registration, represented by letters in the designation. The grade and class describe different aspects of registration.
Illustrative example: A contractor checks whether its registered class covers the type of construction work requested.
The Compensation for Occupational Injuries and Diseases Act, which provides a framework for compensation connected to employment-related injuries, diseases and resulting death.
Illustrative example: An employer treats an occupational injury reporting process as separate from ordinary payroll administration.
The fund administering compensation and related benefits under the occupational injuries and diseases framework for covered cases.
Illustrative example: An employer keeps its Fund registration and assessment records in a dedicated compliance folder.
A member of a company’s board with responsibilities for its governance. Holding this office is distinct from holding shares in the company.
Illustrative example: A company appoints an experienced manager as a director without transferring any shares to that person.
SARS’s online system for authorised tax administration, including supported returns, account functions and compliance requests.
Illustrative example: A business uses its authorised portfolio to request tax status for the correct company.
The monthly employer declaration allocating amounts for PAYE, SDL, UIF and any applicable Employment Tax Incentive.
Illustrative example: The payroll team checks that the payment reference and declared allocations match the intended monthly payment.
The employer reconciliation declaration that reconciles the relevant employer tax liabilities, payments and employee certificate information.
Illustrative example: The payroll team investigates a difference between monthly declarations, payments and employee certificates before submitting its reconciliation.
The residual interest in the business’s assets after its liabilities are deducted. It is not the same as the cash in its bank account.
Illustrative example: An owner reads the equity balance alongside the liabilities and assets rather than treating it as available spending money.
Structured reports about an entity’s financial position and performance, including the relevant assets, liabilities, equity, income and expenses.
Illustrative example: A business uses completed financial statements to explain a reporting period to its owners or a lender.
A person who takes part in establishing a company through its incorporation documents. This role should be identified separately from later ownership changes.
Illustrative example: The person signing the founding incorporation documents is recorded in the application’s incorporator details.
VAT on qualifying purchases that a vendor may deduct when the legal requirements and supporting evidence are satisfied.
Illustrative example: A business checks a supplier invoice and the purchase’s use before deciding whether a deduction is allowed.
Goods held for ordinary sale, work in production for sale, and materials or supplies used in production or service delivery.
Illustrative example: A retailer counts saleable stock and identifies damaged goods for review at the reporting date.
The SARS return used to declare estimated taxable income for provisional tax. A nil payment does not automatically remove the filing question.
Illustrative example: The accountant prepares the estimate and confirms whether an IRP6 must be submitted even when no payment is expected.
A Compensation Fund status document associated with an employer meeting the Fund’s applicable good-standing conditions. It should be verified through the official channel.
Illustrative example: A client checks a contractor’s current letter instead of relying on an old PDF in a tender folder.
An existing obligation arising from past events that requires the business to transfer an economic resource.
Illustrative example: An unpaid supplier invoice creates an amount the business must settle.
The company’s founding document that sets out its governance rules within the Companies Act. It is commonly abbreviated to MOI.
Illustrative example: Before admitting an investor, the owners check the MOI’s rules for shares and decisions.
VAT a vendor accounts for on taxable supplies and other transactions to which the VAT rules apply.
Illustrative example: A vendor records VAT on a taxable customer sale in the appropriate return period.
Employees’ tax deducted or withheld by an employer from remuneration and paid to SARS under the applicable rules.
Illustrative example: A payroll calculation records an employee’s PAYE separately from the net salary paid into their bank account.
A way of paying income tax during the year using estimated taxable income. It is not a separate tax on top of income tax.
Illustrative example: A company updates its income estimate before preparing the next provisional tax submission.
An individual appointed to act in the company’s tax representative capacity. SARS records must reflect the appropriate appointment.
Illustrative example: After a personnel change, the company checks its public officer record and the new person’s authorised access.
The office address a company maintains and records for statutory purposes. It need not be the same as every place from which the business trades.
Illustrative example: A retailer has several shops but records one registered office in its company particulars.
A person recognised by SARS in an appropriate capacity to act for another legal entity. The capacity depends on the entity concerned.
Illustrative example: A company establishes its recognised representative before trying to manage tax matters on its behalf.
The employer’s earnings declaration used by the Compensation Fund for the relevant assessment period. It is commonly abbreviated to ROE.
Illustrative example: The payroll administrator reconciles the relevant months before preparing the employer’s ROE figures.
The company’s record of issued securities and their holders. For shares, it is often called the share register.
Illustrative example: After a valid share transfer, the company updates its register and retains the supporting documents.
A tax that can apply to transfers of securities such as company shares. The transaction’s treatment and any exemption must be checked.
Illustrative example: A company reviews the tax consequences when a buyer acquires its existing shares.
A company-issued document evidencing the shares specified in it. It should agree with the supporting securities register and transaction records.
Illustrative example: A buyer checks a certificate against the register instead of treating the document alone as the whole ownership history.
A change in the holder of existing shares, subject to the company’s rules, required approvals and the transaction documents.
Illustrative example: A buyer acquires existing shares in a company and the company updates the relevant ownership records.
A holder of shares recorded in the company’s securities register, subject to the rights attached to those shares.
Illustrative example: An investor holds shares but leaves daily management to the company’s directors.
SARS’s status of a taxpayer’s compliance, which can be shared for third-party verification through the TCS process.
Illustrative example: A tendering company checks the reasons in its compliance profile before sharing status with a buyer.
A document recording a taxable supply with the particulars required by VAT law for the relevant transaction.
Illustrative example: The accounts clerk requests a corrected invoice because the supplied document lacks required details.
A SARS-issued code used to authorise a third party to view a taxpayer’s current compliance status. It is not an eFiling password.
Illustrative example: A supplier shares the required PIN for status verification while keeping its login credentials private.
A formal offer submitted in response to a buyer’s procurement invitation, following the stated requirements and conditions.
Illustrative example: A contractor responds to the specific scope and schedules in a municipal invitation rather than sending only a company profile.
The Unemployment Insurance Fund, which provides benefits to qualifying contributors or dependants in specified circumstances. It is separate from the Compensation Fund.
Illustrative example: An employer checks UIF administration separately from its COIDA assessment records.
A person registered, or required to be registered, under the VAT system, with related charging, return and record obligations.
Illustrative example: A VAT-registered business reviews its invoices and return obligations before issuing customer documents.
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