Case Resolution: Tax Compliance
The bank needed a tax compliance Status certificate. Time was running out
A successful entrepreneur had focused almost entirely on growing the business. Accounting and tax administration continually moved down the priority list.
Everything changed when the business urgently required blank finance.
One of the bank’s requirements was proof of tax compliance a valid Tax Compliance Status (TCS) issued by SARS. Unfortunately, years of outstanding accounting work meant the company could not immediately demonstrate compliance.
Our team reconstructed five years of accounting records, reconciled bank statements, prepared financial statements, submitted outstanding tax returns and completed the necessary SARS compliance processes.
The business obtained the documentation it needed inn time to proceed with its financing application.
Many business owners only discover he importance of up-to-date accounting when applying for finance, government tenders, investor funding or major counteracts.
Keeping your financial records current is not simply about compliance-i is about being ready when opportunities arise.
