FAQ: What relevant material is the Company required to submit with the ITR14 return?

For first time submission of the ITR14, signed off supporting annual financial statements (AFS) are compulsory for submission if the Company is classified as a Small Business or Medium to Large Business.
The AFS must as a minimum contain the following:
- Income Statement;
- Balance Sheet;
- Tax Computation; and
- Notes to the AFS.
For all other Company classifications (Dormant, Body Corporate, Share Block and Micro business) the submission of the AFS are optional.
Completion and attachment of supporting schedules to the ITR14 are also compulsory for the following companies listed below:
- A company that conducted short term insurance activities must complete the short term insurance schedule.
- A company that conducted mining activities must complete the mining schedule.
- A company that elects to be a Headquarter Company must complete the RCH01 – Schedule for Companies Electing to be a Headquarter Company – External Form.
- A company that claimed an allowance for learnership agreements in terms of the provisions of section 12H of the Income Tax Act must complete the IT180 – Declaration by Employer to Claim Deduction against Learnerships – External Form in respect of each learnership agreement or contract of apprenticeship for which a deduction for an allowance was claimed.
- For Controlled Foreign Companies, the submission of the IT10B – Schedule Controlled Foreign Company 2012 Onward – External Form is compulsory. (For years of assessment prior to 2012, Companies with Controlled Foreign Companies must complete and submit the “IT10A – Controlled Foreign Company Prior 2012 – External Form” For years of assessment 2012 onwards, Companies with Controlled Foreign Companies must complete and submit the “IT10B – Schedule Controlled Foreign Company 2012 Onward – External Form”)

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