- 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”)