Value-Added Tax (VAT) - changes

A vendor is required to register for VAt when his turnover in a 12 month period is likely to exceed R1 mio (previously R300.000). Where the turnover is less than R1 mio, but exceeds R20.000 (R60.000 in the case of commercial establishments) in a 12 month period, a vendor can register voluntarily.

The threshold for compulsory registration increases from R300.000 to R1 mio!

NOTE:
This change comes into effect once the government has finally agreed on. Currently it is a proposal, but it is very likely that it will be decided on by mid of this year.

Cape Town Regional Chamber of Commerce....

The Cape Town Regional Chamber of Commerce & Industry, Central Committee, will host a dynamic presentation by Mr. Denis Stupan, Head of Liaison office to the European Union of the Bavarian Business Association in Brussels.

Topic:
Will the EU be interested in the New SA Government?

Drinks, snacks and Cape Town Central Committee networking will follow.

No charge! For more details, drop an email to info@prime-solution.com with "EU presentation" in the subject line.

DTI - new regulations for Non-SA people setting up business in SA

Since change of head of DTI (Department of Trade & Industry) two or three months ago, the new director, Mr. Goosen, is no longer willing to accept any applications for reduction of the minimum investment amount of R 2.5 mio which fall below R 500.000. Such application is needed in order to obtain a so-called "Waiver Letter". For foreigners trying to establish a business in SA (South Africa) with less than R 2.5 mio it's still possible to apply for a reduction is certain industries, such as tourismn, automotive, IT etc..
This change in procedure has quite a huge impact on foreign entrepreneurs who intended to start their business with less than 2.5 mio and even less than R 500.000. Various business associations as well as e. g. the major immigration service providers already raised their concerns, but so far without success. Mr. Goosen insists on his new regulation, apart from the fact that it was him/his organization who took away the authority to sign off such "waiver letters" from WESGRO who issued these documents in the past.
More to come on this issue when it's more clear where the journey goes. At the current stage the majority of the immigration service providers recommend to hold back any re-vised/new applications for reduction of the investment amount, provided the amount will be less than R 500.000.

Marketing for your Business

A good place for SME and entrepreneurs to do some marketing for their business free of charge is http://www.myprofile.co.za/

Here you can list your company in the section of the business directory which suits most the services and products your company is offering. To upload your company logo is also possible.

Need immediately a business started?

Best opportunity to avoid the long way to get your own company registered is to buy one from shelf. Good point of contact would be the Shelf-Warehouse's branch office in Cape Town:
P 021 421 1551
F 021 421 1560
E ctn@pty-online.co.za
Address: Safmarine House, 22 Riebeek St, Cape Town

Trade Mark registration in South Africa

After going through this process in Europe, I did the same now in South Africa. The website www.cipro.co.za of "Company and Intellectual Property Registration Office" (CIPRO), a division of Department of Trade and Industry (DTI) was a great help. The direct link to the trade mark area is as follows www.cipro.co.za/products_services/trademarks.asp,
What is necessary is that you first get yourself / your company registered as a customer with CIPRO in order to obtain a so-called virtual account. This virtual account is conditional for receiving services not free of charge from CIPRO, such as the registration of your trade mark. Before you can use such services, you need to make a deposit into this virtual account. The amount of this deposit is completely up to you, i.e. what ever services you have in mind you would like to use, look up the price list, add them up and you know roughly what your first deposit should be.
The templates they provide are quite handy and user friendly. However, I have to admit that the instructions how to use those templates need a little bit improvement - but all this is manageable and gives you the right results.

Get your company's name out to the community

A convenient way for SMEs and start-ups in the advertising and marketing sector to use one more effective way to promote company name and offered services while considering your budget, make use of www.biz-community.com and get your company listed.