Browse by tag

company-tax

Small Business Corporation

A Small Business Corporation (SBC) is a private company that complies with various requirements per the Tax Act. If it meets the definition of a SBC, it can tak

definitions

Capital and Reserves

Capital and Reserves is a line item under the Equity section of the Balance Sheet. Capital is the initial investment made by the shareholders of the company by

definitions

Voluntary Disclosure Programme

The Voluntary Disclosure Programme (VDP) is a voluntary opportunity for individuals, companies and trusts who have previously defaulted on their tax affairs, to

definitions

Dormant

A dormant company is a company that is registered with the CIPC (The Companies and Intellectual Property Commission) but is not actively trading. Even if the c

definitions

Balance Sheet

A Balance Sheets is a schedule or record of the business's financial balances which includes assets, equity and liabilities. For more details, please refer her

definitions

Income Statement

The Income Statement is a schedule or record of your business' income and expenses for the tax year. It also shows whether the business is making a profit or lo