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Address these three issues before you apply for a TCC or SARS will deny it

by , 04 July 2014
In this tough economy, you need all the business you can get. A key document that can help you attract new business or win new tenders is a Tax Clearance Certificate (TCC).

That's right.

You must get a new Tax Clearance Certificate for each and every tender or contract your company wants to apply for. And if you're investing overseas or emigrating, you'll need a tax clearance certificate too as part of the Certificate of Good Standing.

Since this document plays such an important role, you must get your house in order before you apply. If you don't, SARS won't grant it.

Here are the three issues you must address before you apply for a TCC.

 

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SARS won't issue a Tax Clearance Certificates if you haven't sorted out these three issues

According to the Practical Vat Loose Leaf Service, SARS won't issue a Tax Clearance Certificate if:

#1: You have more than R2 000 in tax, penalties or interest outstanding.

#2: Any outstanding income tax, Vat or Pay As You Earn (including the Skills Development Levy and UIF) returns that are past the due or extension date.

#3: Your business has failed to submit any PAYE reconciliations.

Our advice is to address any shortcomings in any of these areas before you apply for a Tax Clearance Certificate.

Also take note of the fact that earlier this year SARS introduced a new streamlined tax Clearance Certificate application process.

In this article, we explain that the eFiling process makes it easier for you to apply for your TCC online. Once it's ready (about 21 working days later), just pop down to your local SARS office to collect your new certificate.

So the ball is really in your court when it comes to Tax Clearance Certificates. SARS has made the application process easier. All you have to do is to address the issues we've outlined so SARS won't deny your application.

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