THE interface between the South African Revenue Service (SARS) and the Companies and Intellectual Property Commission (CIPC) to enable real-time data sharing was working well, the two entities told MPs on Tuesday.The system ensures that a company registering with the CIPC automatically registers for company tax with SARS and is issued with a tax reference number.SARS group executive for tax compliance Fabian Murray told members of Parliament’s trade and industry committee that this system resulted in enhanced compliance and reduced the administrative burden for both taxpayers and the two entities.Changes in address and other data amendments were also captured automatically.SARS, for its part, forwards the annual financial statements filed by companies to the CIPC, where the taxpayer has granted permission to do so.There is no automatic process to deregister clients at SARS that have been deregistered with the CIPC. The CIPC periodically provides SARS with a list of companies it inte...
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