Compliance

“What is business compliance?”

Compliance means making sure your company follows all the legal, tax, and reporting rules required by the South African government.

It’s all about keeping your business legal and in good standing, from registration to taxes and everything in between.

“What does compliance include?”

Some of the key tasks that fall under business compliance are:

  1. Filing annual returns with CIPC
  2. Declaring your beneficial ownership
  3. Keeping your company information updated (e.g. directors, address)
  4. Registering for tax and submitting returns to SARS
  5. Paying any required taxes like Income Tax, VAT, PAYE, or UIF
  6. Keeping financial records and invoices
  7. Staying compliant with labour laws, COID, and health and safety regulations (if you have employees)

“Why is compliance important for my business?”

When your business is compliant…

  • You avoid penalties and legal trouble
  • You can access funding, tenders, and partnerships
  • You appear more credible to clients, banks, and investors
  • You reduce the risk of being deregistered or flagged by SARS or CIPC

Basically, compliance protects your business and helps it grow.

“What happens if my business is not compliant?”

If you ignore your compliance duties, you could:

  • Face fines or interest from SARS
  • Get penalised or deregistered by CIPC
  • Lose out on tenders, funding, or contracts
  • Struggle to open or maintain a business bank account

Non-compliance can seriously hold your business back, even if you're just starting out.

How can I stay compliant?

The best way is to:

  • Keep track of important dates (like your registration anniversary or tax deadlines)
  • Use simple checklists or hire a professional to help
  • Work with a partner like Govchain to manage the admin for you

Let Govchain handle your compliance so you can focus on running your business.


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