Close Corporation registered with CIPC.
Tax clearance will be provided and no liabilities transferred,
Loan account credit to member/owner of R577 220,00 on the Balance Sheet. This is affectively worth R161621 at the current corporate tax rate of 28% in South Africa.
NOTE: The loan account credit to member/owner has no immediate cash value but can be repaid to the new owner from future trading profits. As it will be the repayment of a "loan" there is no tax liability.
Reason For Selling:
CC is dormant as the business (trading entity) has been sold.