Tag: Companies and Intellectual Property Commission (CIPC)

On 31 July 2023, National Treasury released their annual draft tax law amendments, for public comment. Although still at the draft stage, there are some pertinent proposed changes for which the supporting systems have already been implemented i.e., the “Beneficial Ownership Registers”.

On 1 April 2023, the Companies and Intellectual Property Commission (CIPC) released its new “beneficial ownership register” functionality on its e-services platform. This new requirement has placed companies under the spotlight as they must now declare their beneficial ownership to the CIPC. This means the days when the “warm body” which sits behind a company can no longer remain off record.

If you hold “beneficial ownership” in relation to a company, you should already be aware of the new “beneficial ownership register” functionality now on the Companies and Intellectual Property Commission (CIPC)’s e-services platform.

The Companies and Intellectual Property Commission (CIPC) is pleased to announce that it is planning to establish and implement a beneficial ownership (BO) register to be released upon approval of the regulations, pursuant to the commencement of the General Laws Amendment Act, 2022, that was signed into law by the President of the Republic of South Africa on 29 December 2022.

South Africa possesses ore reserves amounting to a value of more than US$2.5 trillion, with 16 commodities ranked in the top ten internationally. In such an important and high-value sector of the economy, it’s easy to see why the mining industry is a frequent target for malfeasance of all kinds – from deceptive suppliers to tender fraud.

Filing of Financial Accountability Supplements instead of Audited Annual Financial Statements during the period 01 April 2020 to 31 March 2021. On 01 July 2018, we mandated Extensible Business Reporting Language, which is a digital financial reporting mechanism for companies to file audited annual financial statements (AFSs) in an electronic format.

The annual Annual Training Report (ATR) and Workplace Skills Plan (WSP) submission deadline is 30 April 2022 however some SETAs have already extended their submission dates. But for most the submission deadline remains at the end of this month. I unpack the importance of Skills Development Levy (SDL) for companies.

SME development has been on the agenda since the days of the Mandela presidency - and yet, South Africa’s small businesses continue to founder. Their precarious state has been placed under even more pressure by unforeseen events such as the pandemic lockdowns and July riots, and, with our unemployment rate now standing at more than 30%, it is more important than ever to take action.

Global Entrepreneurship Week celebrated entrepreneurs and aims to inspire more young people to make their mark in society. It's a timely reminder that we need to support youth entrepreneurship in South Africa to address our unemployment crisis and catalyse economic growth.

A new draft of the Companies Amendment Bill has been published. Although the bill clarifies many important company law issues; several ambiguities related to the current act remain. On Friday, 1 October 2021, the Department of Trade, and Industry (DTI) published a new draft of the Companies Amendment Bill, 2021 (2021 Bill) for public comment.