This is vitally important, in the course of the estate initiation and finalisation process, as all communication regarding tax enquiries, eFiling matters and estates compliance is sent to the correct email address. The nominated representative taxpayer of the estate (the Liquidator(s)) as duly appointed by the Master of the High Court needs to ensure that the necessary official appointment documents are furnished to SARS in order for the details regarding the estate’s representative taxpayer to be updated. Update of the Estate’s Representative Taxpayer details Refer to our FAQ on what is required to report the new Estate to SARS. In order to report a new Estate Case to SARS, it is important that the correct Supporting Documentation be submitted to SARS. by sending it through the new SARS Online Query System.By sending an email to the SARS email addresses or.There are two options at this stage to report a new Estate Case to SARS: How do I get the process started to make SARS aware of an estate?Ī company or close corporation in liquidation is regarded as an estate from a SARS point of view. Such liability will arise if the liquidator alienates, charges or disposes of the income in respect of which the tax is chargeable, or disposes of any fund or money which is in that person’s possession from which the tax could legally have been paid. If a liquidator fails to comply with the requirements of the relevant tax Act and the Tax Administration Act relating to a company/close corporation in liquidation, that person could be held personally liable for any tax payable in representative capacity. Payment of outstanding tax liabilities.Engagement with SARS regarding the entity.Informing SARS of the liquidation of the entity.The liquidator is also the representative taxpayer of the company/close corporation in liquidation.ĭuties of the liquidator at SARS as the representative taxpayer The appointed liquidator is acting as the public officer for a company/close corporation in liquidation and is responsible for the tax affairs of such entity as part of the winding-up process. Who is responsible for the tax affairs of the company or close corporation in liquidation? When a company/close corporation undergoes a voluntary or compulsory liquidation (also known as the “winding – up” of a company/close corporation) it involves the process of selling all the assets, paying off creditors, issuing any remaining assets to the shareholders, and closing the company/close corporation. In the case of a solvent company/close corporation, by an application by shareholders of a company or members of a close corporation.When a company is unable to pay its debts by application of the creditors or a voluntary application by shareholders of a company or members of a close corporation (commonly referred to as a creditors’ voluntary liquidation) or.The liquidation or the “winding-up” of a company takes place: When is a company or a close corporation liquidated? Frequently Asked Questions: Liquidations.Northcoast is proud to be accredited by the Better Business Bureau with an A+ rating. We offer pick up, and we deliver anywhere in the greater Cleveland area. In addition to hotel furnishings, we often carry special pieces, and handcrafted items made by local artisans. Our online store is updated regularly with our current inventory. Northcoast customers experience exciting finds and bargains, which is part of our unique appeal. Our friendly and helpful team members are happy to assist you in finding the right item at the right price to fit your budget. The only thing that remains the same is our low prices. The styles, colors, and types of furnishings change from week to week as we liquidate different hotels. We provide our loyal shoppers with a broad assortment of ever-changing inventory. Public sales are held on Wednesdays and Saturdays at our warehouse near Cleveland Hopkins International Airport. Our stock is obtained mostly through large renovation projects and flag changes. Because we acquire such large quantities from some of the finest hotels in the country, we are able to pass along excellent pricing to customers looking to purchase high-quality, distinctive furnishings. At Northcoast Hotel Liquidation, we specialize in the purchase, removal, and resale of hotel, restaurant, and lounge furnishings.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |