MTSC Financial
Accounting Services in Komatipoort

TAX & Accounting - Specialists§ Built up a solid Tax Base over the years by word of mouth referrals – “Doing Tax the ManTax Way”§ Bookkeeping for Small Businesses to Trial Balance§ Prepared Management Accounts for clients where required.§ Registered new and amended existing Close Corporations with Associations§ Draw up Association Agreements and other allied agreements§ Budgeting and forecasting§ Prepare Financial Statements for Sole Proprietors Calculate and render Individual and Company Tax ReturnsVerify & raise Objections/Corrections to incorrect assessments § Salary Structuring and General Tax Advice, Due DiligenceBusiness Development Plans & Mentoring- business Rescue- Turnoarrounds- Start-ups- Growth phases- Trademarks-Branding- Business Modelling-Workshops & Seminars- Mentoring & Coaching-Consulting-ProjectsAN ASPIRING ENTREPENEUR - GET THE LOW DOWN ON OUR BUSINESS OPPORTUNITY.

We are Taxation and Accounting Specialists who have extensive experience in personal and Company Taxation. Our forte is non compliance and assistance with audits and relevant material. Our company services are holistic and are geared to suite small to medium sized businesses from inception to growth phases. MTSC started as a sole prop, grew into a CC and incorporated as a Private Company in 2012 in line with the changes to the new Companies Act Due to our long history we have been through most of the phases of change with SARS and the business landscape in general. We consider ourselves to be an innovative company and keep up to date with the latest technologies, products and legislation for the benefit of you, our clients. As businesses are different, we have created a model that works for our clients based on what they needed. Our Accounting system is packaged cost effectively and holistically geared for everything small business needs including us! As we employ strategic approaches, we have developed a unique way of using products that are available in the marketplace and combining them in such a way that are geared to give our clients Tax efficiency, compliance, direction and a level of protection from certain identified business risks. Due to the nature of our business we are in a continual process of prioritizing and reviewing our clients affairs to ensure compliance with current legislation and that they are operating at the most optimized level possible. Once we have the plan and you are in agreement with the plan, which is not set in stone as business circumstances change and the plan needs to be adaptable, we start getting it done, in the uniqueness of the MTSC Financial system. Debra managed our personal taxes for many years including the time when either my partner or both of us were working as expats outside the country. She was always able to give us sound, strategic and timely advice on our tax requirements giving us a professional service that was, at the same time, personable. Debra is a wonderful person to work with, she gets work done in time and she always goes an extra mile to ensure that her clients are satisfied and happy. Income tax is paid on a company’s profits which consist of trading income, passive income and capital gains. Dividends received from a Foreign Company are in principle, subject to Income Tax, although various exemptions exist. For example a foreign dividend will be exempt where the recipient holds at least 10% of the shares and voting rights of the company declaring the dividend. When a foreign divided is taxable, a credit for the withholding tax paid is generally available. Trading Losses can be carried forward indefinitely The Tax Rate for Companies and Branches is 28% and for Trusts is 41%. Value Added Tax Vat is levied on the sale of goods and the provision of services. A person making standard, zero rated or exempt supplies of ZAR 1 Million a year is obliged to register for VAT. Non Residents that carry on an enterprise in South Africa are required to register for VAT. Those businesses providing Professional Services and Personal services are generally excluded from Turnover Tax and there is other qualifying criteria. This classification of business was created for the specific purpose of encouraging new ventures and employment creation and presents the opportunity for small businesses to benefit from reduced rates of taxation. However, it is not intended to benefit any professional person such as an architect or a lawyer who renders his/her service by means of a company or close corporation so in order to qualify you must know whether or not your business fits the requirements of what is termed a small business corporation.