Seamless CIPC Filing at your service
Seamless CIPC Filing at your service
iXBRL for CIPC Filing
iXBRL is a global digital reporting standard for exchanging business information for financial reporting.
As of 1st July 2018, the CIPC (Companies and Intellectual Property Commission) has made it mandatory for qualifying entities in South Africa to submit their Annual Financial Statements (AFS) in an iXBRL (Inline eXtensible Business Reporting Language) format.
The CIPC is also encouraging all entities in South Africa to realize the benefits of iXBRL reporting to improve the quality of their Annual Financial Statements (AFS) through CIPC’s comprehensive business validation rules.
iXBRL Conversion - Managed Tagging Service
Convert your Annual Financial Statements (AFS) to iXBRL documents by entrusting the task to our team of experts and save time as well as resources.
CbCR Reporting
The BEPS (Base Erosion and Profit Shifting) Action Plan 13 by OECD describes the Country-by-Country Reporting (or CbCR) framework for multinational companies to report the key metrics with an appropriate tax authority. With DataTracks’ one-stop solution for all CbCR, compliance has become easier and simpler by uploading pre-mapped Excel template and generating jurisdiction specific XML output.
FATCA CRS Reporting
The FATCA/CRS reporting services from DataTracks aim to assist financial enterprises in linking accounts of individuals and entities across different business units, facilitating aggregation by referring to data elements such as customer name, ID and tax identification number.
DataTracks Rainbow for CIPC Reporting
DataTracks Rainbow is a secure cloud-based iXBRL tagging tool certified by South Africa’s CIPC (Companies and Intellectual Property Commission). It empowers companies and audit firms to convert financial statements prepared in Word or Excel into fully compliant iXBRL format, supporting both IFRS and CIPC taxonomies.
DataTracks Oxbow for FATCA/CRS Reporting
With DataTracks Oxbow users can perform complex regulatory submissions with ease. Regulations such as FATCA/CRS, CBCR and MIFID are covered, generating fully valid outputs in formats such as XML. The latest version of DataTracks Oxbow is an AI-driven automated MTD for VAT conversion tool with a capability to generate XBRL files in under 15 minutes, with full compliance and uncompromised accuracy.
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Who Need to file AFS with CIPC in iXBRL format?
All entities—be they companies, closed corporations, publicly or privately listed organizations, or non-profits with a PI Score exceeding 350—must submit their AFS in iXBRL format to the CIPC. The same mandate applies to companies conducting internal audits with a PI Score above 100, cooperatives boasting an annual turnover greater than 10 million Rands, and any organization that has specified in its Memorandum of Incorporation (MOI) an intent to file their AFS using iXBRL.
Who is the trusted CIPC iXBRL Convertors in the South Africa?
Why should you outsource iXBRL Conversion & Tagging Service with DataTracks?
When is the deadline for filing annual returns with CIPC in iXBRL format?
What are the consequences of not submitting CIPC Annual Returns?
Failure to submit Annual Financial Statements (AFS) leads to an investigation, followed by a compliance notice with a specified deadline. Non-compliance may result in fines or formal prosecution. Additionally, not submitting CIPC Annual Returns may lead to entity de-registration and the imposition of penalties.