Disclaimer - Terms and Conditions
THIS IS AN IMPORTANT DOCUMENT PLEASE READ CAREFULLY
Terms and Conditions of Use of Taxco Services and our Website
Welcome to the Taxco Accountants and Tax Consultants Terms and Conditions of use of our services and website. If you continue to browse and use our website you are agreeing to comply with and are legally bound by the following Terms and Conditions of use, which together with our privacy, services, information, products and other policies below govern Taxco's relationship with you in relation to our website and our services, in terms of contents and the services and/or products which you may or may not utilise. If you do not agree to these Terms and Conditions, please discontinue using the website and/or our services immediately!
Interpretation
For interpretation purposes the following shall apply:-
Taxco is the registered brand name for the Taxco network and all Taxco member firms, including TaxBox associates. Each Taxco firm is a separate and distinct legal entity. No relationship or partnership, agency or joint venture share is hereby deemed to exist between the Taxco firms and none of the Taxco firms are hereby representing themselves as partners or representatives of each other.
The Taxco website refers to the website - www.taxcotrust.com
The words Taxco, the firm, we, us and our, are used to refer to each individual Taxco firm or member firms or franchisee for ease of reference only. (As required by law a list of all partners of each member firm is contained under the “About Us” page on the website or on the applicable member or associate firm’s letterhead with whom you are doing business with.)
The term “you” refers to the user, the client or customer, prospective client or customer, or viewer of the Taxco website.
Unless the context requires otherwise, words importing natural persons shall include a reference to bodies corporate and other legal persons and vice versa and words importing the masculine shall include a reference to the feminine and other genders and words importing the singular shall include a reference to the plural and vice versa;
Annexes to these Terms and Conditions shall be deemed to have been incorporated herein and shall form an integral part hereof if signed or added to the Taxco website;
A reference to a party in this document includes that party's successors and permitted assigns of Taxco, the user and/or client;
Any reference to an enactment is to that enactment as at the date of signature hereof and as amended or re-enacted from time to time;
Where the day on or by which anything is to be done by Taxco is not a business day, it shall be done on or by the first business day after;
When any number of days is prescribed in the Terms and Conditions, it shall be reckoned exclusively of the first and inclusively of the last day, unless the last day falls on a Saturday, Sunday or Public Holiday, in which case, the last day shall be the next succeeding day which is not a Saturday, Sunday or Public Holiday;
A reference to a document or agreement, includes an amendment or supplement to, or replacement or novation of that document or agreement;
The captions appearing in this Terms and Conditions are for reference purposes only and shall not affect the interpretation hereof;
Where figures are referred to in numerals and words, if there is any conflict between the two, the words shall prevail.
The user or client includes any Company, CC, Partnership, Joint Venture, Trust or other legal person whom the user or client may represent.
Appointments as Accountant/Tax advisor and other Services
Based on what services you enquire about, order or make use of, we confirm that the services we will be expected to perform to you as the user and/or client is on the Terms and Conditions we have set out in this document, detailing a description of the duties which we might be expected to perform and including the rights and obligations of you, the user and/or client.
Please note that Taxco, it’s member and correspondent firms are separate and independent legal entities. Some of the services mentioned herein are provided by separate correspondents or associates and not all by the Taxco group of firms.
Accounting Officer to Close Corporations
Should our appointment include the appointment as your Accounting Officer for any Close corporation you are a member of, the following will apply:
In terms of the Close Corporations Act No. 69 of 1984 we are required to determine that the financial statements agree with the accounting records of the corporation, to review the appropriateness of the accounting policies represented to us as having been applied in the preparation of the financial statements and to report to the corporation in respect of these matters. We are also obliged to take certain action if, during the performance of our duties as accounting officer, we become aware of any and/or all of the following:
(i) a provision of the Close Corporations Act No. 69 of 1984 has been contravened;
(ii) a change to the particulars in the founding statement has not been registered;
(iii) the financial statements indicate that the liabilities of the corporation exceed its assets;
(iv) the financial statements incorrectly indicate that the assets exceed the liabilities;
(v) the corporation is not carrying on business and has no intention of resuming operations in the foreseeable future.
In order to properly fulfil our duties, we will require written representations on certain matters from the members.
Contravention of the Close Corporations Act
If in the performance of our duties we become aware of any contraventions of the Close Corporations Act No. 69 of 1984 we will report them to you immediately. You should be aware that a contravention of the Close Corporations Act No. 69 of 1984 could result in the personal liability of members.
Annual Returns - CIPC
As part of our appointment we will prepare the annual returns of the client from information provided to us by the directors of a company or members of a close corporation and we may, for purposes of enabling us to adequately prepare and lodge the returns, make further enquiries both from the directors and/or members and from CIPRO.
The lodgement of the return may, furthermore, require that an amended founding statement be lodged beforehand should it transpire that the entity's information at CIPRO is not up to date and this will then also be attended to and would not fall outside the description of our appointment in this regard.
We would, however, require the client to deposit into our account any annual return prescribed fee or additional lodgement fee prior to lodgement of the outstanding returns.
Accounting and Compilation work
On processing of transactions to the general ledger from substantiating documents received, no specific procedures will be done on the verification and allocation other than those which appear to be blatantly incorrect in the general ledger and we will rely heavily on the explanations and information supplied by the client. Where necessary, we will do a Vat reconciliation by comparing the declared income per the financial statements to the total output sales declared on the VAT201 returns for the period under review and advise you of any material discrepancies.
Our services does not include that we substantiate that all Vat invoices comply with the Vat Act No. 89 of 1991, as amended and the client confirms that invoices issued and received comply with the Vat Act.
Where necessary, we will do a PAYE, UIF and SDL reconciliation between the declared salaries and wages per the financial statements and the total remuneration declared on the EMP201 returns for the period under review and advise you of any material discrepancies.
Our services may include a complete Payroll solution on request and the client confirms that he is aware of the duties of an Employer. Our Payroll professionals will be more than glad to assist you should you require assistance in this regard.
We accept that clients have issued IRP5's and IT3's for all salaries, commissions and student hire paid, except for those paid per compliant Vat Invoice.
Financial Statements
On request we will assist with the preparation of annual financial statements in accordance with generally accepted accounting practice statements appropriate to the business. The financial statements are primarily the responsibility of the client. Our responsibility will be the compilation of the financial statements and the presentation and the content thereof the responsibility of the client. The financial statements will be prepared for your consideration and approval. Should you require financial statements at intervals of less than one year, this can be arranged.
We are not required to determine that the financial statements agree with the accounting records (trial balance) of the business for entities other than a company or close corporation. We may however review the appropriateness of the accounting policies represented to us, as having been applied in the preparation of the financial statements and will report to the client in respect of these matters.
No audit or review is carried out on any accounting records or financial statements, unless specifically requested in writing and we will not necessarily refer to any subsidiary accounting records and vouchers supporting the entries in the accounting records when compiling financial statements and accordingly no assurance is expressed on compiled financial statements.
We may or may not be obliged to take certain action if, during the performance of our duties as accountants, we become aware of any and/or all of the following:
(i) a provision of the FIC Act has been contravened;
(ii) reckless and negligent management by client not corrected within a reasonable time;
(iii) the financial statements indicate that the liabilities of the business exceed its assets;
(iv) the financial statements incorrectly indicate that the assets exceed the liabilities;
In order to properly fulfil our duties, we will require written representations on certain matters from the client and will be accepted as matter of fact. After completion of the annual financial statements you will be required to complete a letter of general representation at the end of each financial year.
It should be noted that the client is responsible for ensuring that the financial statements fairly present the state of affairs of the business at the end of the financial year concerned, and the results of it's operation for that year. The keeping of proper accounting records by him is therefore essential.
Accounting Records
The accounting records are the responsibility of, and will be maintained by, the client.
Note that the Receiver of Revenue requires that proper books of account be kept in respect of all transactions entered into by the business. The business name and registration details should also appear on all letterheads, chequebooks and other official stationery for easy identification. In order to maintain proper records you should open a bank account in the name of the business. All monies received and paid by the business should be channelled through this account.
The Client should retain the accounting records and substantiating documents for a period of 6 (Six) years.
Document Imaging
Application to SARS can be made on your behalf to electronically store your supporting documents in terms of sections 55 of the Vat Act and/or section 73 of the Income Tax Act, in terms whereof original documents are kept for one year and four years in electronic format. We offer a comprehensive scanning service on your written request, after which a separate service level agreement will be drawn up to suit your specific document storage needs and requirements in this regard.
We will however scan such documents as we require necessary for our own working papers and return all documents for safekeeping to the client.
Registration with Authorities
It is necessary to register at the following authorities where applicable:
1. Receiver of Revenue for Income tax purposes
2. Unemployment Insurance Commissioner
3. Receiver of Revenue for PAYE/SDL purposes
4. Industrial Council
5. Receiver of Revenue for VAT purposes
6. Workmen's Compensation Commissioner
In accordance with the tax services, which are to be provided, we will affect such registration on written request and payment.
Taxation Services
In addition to the above, we will assist with the preparation and submission of the Income tax returns, Provisional tax, Employees tax, UIF and VAT returns of the client. This includes the completion and return of IT12, IRP6, EMP201, UI19 and VAT201 forms, which have been duly approved and signed by yourself or on your behalf, where such authority has been granted to us.
We will also act as your tax adviser on any other matter specifically referred to us by you.
In order to properly fulfil our duties, we will require written representations on certain matters from you as confirmation that the information completed on the tax forms are your representations and your responsibility as the Taxpayer. Our responsibility is the completion and the submission of the tax returns.
VAT Engagements
Our objectives of the Vat engagement are:
• to compile and summarise the records of the business,
• to electronically examine Vat entries for blatant allocation and claim errors,
• to complete, submit and pay the Vat return based on the financial records summarized.
Standards applied when conducting the Vat engagement
We will gather information to compile the records during the Vat engagement with a view to complying with the International Financial Reporting Standards (IFRS for SME’s), which are principles-based Standards, Interpretations and the Framework adopted by the International Accounting Standards Board (IASB). No assurance is provided whether the records and Vat return are free from material misstatements.
Planning and performing the Vat engagement
Our engagement involves performing procedures to prioritise staffing resources, evaluation of expertise required, obtaining the bank statements, summaries and explanatory documents and notes about the amounts and disclosures of the business for the period under review, to enable us to timeously process the records for review by the Client and for him to confirm the correctness thereof. Our procedures further include:
• Creation of a separate User account for the Client, under the Taxco e-filing profile for purposes of submission and payments to SARS
• evaluating whether all accounting policies are appropriate, in terms of the applicable financial reporting framework, and are applied consistently
• evaluating the information systems used to record and report financial and non-financial information
• verifying bank reconciliations and other control account balances
• evaluating the reasonableness of accounting estimates and judgements made by the Client
• confirming year-end balances
We do not examine every transaction, nor do we guarantee complete accuracy of the summarised records or the Vat return, or compliance with all applicable legislation and because of the nature of information processed, the representations of the Client and other inherent limitations of accounting processing, together with the inherent limitations of internal control, there is an unavoidable risk that some, even material, misstatements may not be detected, even though we have properly planned and performed our engagement.
We scrutinize the overall adequacy and correctness of batch entry listings of the processed information, but we do no specific procedures on the verification and allocation other than those which appear to be blatantly incorrect, and we will rely heavily on the explanations and information supplied by the Client.
Where necessary, we will do an Vat reconciliation by comparing the declared income per the trial balance to the total output sales declared on the VAT201 returns for the period under review and the period to date and will advise you of any material discrepancies.
Where required, we will compile a monthly report for review of our processing and approval thereof by the Client, which may or may not include:
• Taxco monthly processes performed
• Vat form for your certification as complete and correct
• Trial balance for the year to date (including opening balances)
• Trial balance for the Vat period under review
• Pastel client pack
• Balance sheet •
• Tax type report for the Vat period under review (To be signed by Client)
• Detailed ledger of Loan account(s)/Remuneration
• Salary and other control accounts
• Age analysis of Customers and Suppliers
• Queries, problems and other notices
Our services does not include that we substantiate that all Vat invoices comply with the Vat Act No. 89 of 1991, as amended.
On signing of a Taxco completed Vat return, or authorising the Vat payment/credit amount the Client confirms:
• All claimed Vat amounts are represented by Tax Invoices, which are kept by the Client and comply with the Vat Act
• All relevant information has been disclosed and has been properly recorded in the financial accounting records
• Taxco processing of information is reviewed, approved and deemed correct
• The correct completion of the Vat return by Taxco based on information supplied
• The submission of the Vat return on the Client’s Username via the Taxco SARS e-filing profile
• Permission for Taxco to electronically submit and pay any due and payable amounts via the abovementioned SARS e-filing created User account
• Sufficient funds are available for the payment of such returns as and when due
• The submitted Vat return is true and correct
We will communicate to you, in writing, any significant deficiencies in the business processes relevant to the Vat engagement and non compliance with laws and regulations that we have identified during the engagement as and when we become aware thereof, this does not warrant or guarantee that such deficiencies will be detected.
Material misstatements
Misstatements identified during the Vat engagement are either as a result of:
• a difference between the amount, classification, presentation or disclosure of a reported financial statement amount and the amount, classification, presentation or disclosure that is required for the item to be in accordance with the Vat Act, or
• a limitation on the scope of the engagement. This occurs when we are unable to apply our procedures to a selected item that we consider necessary for the purposes of our engagement due to instructions of the Client or the requested information not having been submitted or made available to us.
Misstatements can further arise from fraud or error. When misstatements are detected, we will request the Client to examine the class of transactions, account balance or disclosure and correct the misstatements or to confirm that they are unable to do so e.g. if there is lost documentation or .
Taxco’s procedures does not:
• provide a guarantee of absolute accuracy in the Vat return or Financial statements
• express a view on the adequacy of the Client’s information and internal control systems or the effectiveness and efficiency with which the Client has conducted its affairs
• guarantee the Client’s full compliance with all applicable laws and legislation
• guarantee the timeous submission of Vat returns
• provide absolute assurance on the achievement of the Client’s performance objectives
• provide assurance that all internal controls necessary to address risks over financial and performance reporting have been implemented
• provide an opinion or view on the possible outcome of any investigations in progress, irrespective of who is conducting the investigation
• guarantee the Client’s future viability
Our independence
It is essential that we remain independent of the Client. This involves being, and appearing to be, free of any interest that might be deemed incompatible with integrity, objectivity and independence. In this regard we have a code of conduct which governs our professional conduct. To protect our independence, specific limitations are placed on us in accepting engagements with the Client other than the Vat engagement. We may accept certain types of other engagements not affecting our Independence. Furthermore, we cannot be involved in any of the Client decisions or assist the Client and those charged with governance with the discharge of their statutory responsibilities.
Any such other engagements will be the subject of a separate written engagement letter.
Responsibilities of the Client and those charged with governance
General responsibilities
Our Vat engagement will be conducted on the basis that the Client and those charged with governance acknowledge and understand their responsibilities for, amongst others, the matters set out below. The responsibility for the preparation of Vat returns that are true and just is that of the Client. The Client further has the responsibility for designing, implementing and maintaining internal control relevant to the preparation and presentation of the Vat returns that are free from material misstatement; effectiveness and efficiency of operations; and compliance with applicable legislation. The systems of financial and risk management and internal control should provide reasonable assurance that adopted policies and prescribed procedures are adhered to for the prevention and detection of errors and irregularities, including fraud and illegal acts. They should also provide for the regular monitoring of performance against objectives, and ensure that waste is minimised and business is conducted with due regard to probity.
Disclosing known instances of non-compliance or suspected non-compliance with laws and regulations, of which the effects should be considered when preparing, completion and submitting and payment of Vat returns. Disclosing all matters concerning any risk, allegation or instances of fraud. Accounting for and disclosing related party relationships and transactions.
The Client is also responsible to provide us with:
• all information, such as records and documentation, and other matters that are relevant to the preparation and completion of the Vat returns
• any additional information that the Vat engagement personnel or SARS may request from the Client and those charged with governance
• unrestricted access to those within the entity from whom we determine it necessary to obtain evidence.
Specific responsibilities
The Client and his staff have specific responsibilities relating to the preparation and submission of the Vat return in respect of financial and accountability matters. We assume that management and internal accounting staff are familiar with those responsibilities and, where necessary, has obtained advice on them.
Representation letter
As part of our normal Vat engagement procedures, we will request written confirmation of representations that we have received during the course of our Vat engagement and of the responsibilities of the Client and those charged with governance as outlined above. Failure to provide the Vat engagementors with the requested representation letter or inconsistencies between its content and other Vat engagement evidence may impact on the Vat engagement opinion.
Where the Client has refused to correct some, or all, of the misstatements communicated, the Client will be requested to make a representation concerning the reasons for not making the corrections.
General matters
Statutory reporting deadlines, submission of information for Vat engagement and correction of material misstatements
In order to meet the statutory reporting deadlines, we are dependent on receiving complete financial information timeously within the prescribed period after the end of the Vat period. The financial information must:
• comply with all applicable laws and regulations
• comply in full with the applicable financial reporting framework as prescribed by the Companies Act or other applicable act.
• be supported by complete evidential information.
During the Vat engagement, information will be requested by the Vat engagementor which will be used in completing the Vat return. If this information is not received within the agreed time period of 2 days from the date of the request, the lack thereof will result in the non-completion of the Vat return at which the Client will run the risk of penalties and interest due to the late submission thereof.
Vat engagement findings concerning identified misstatements will be communicated during the course of the Vat engagement. Submission of a response to these communiqués whether it be comments, information or documentation in support of correcting entries, will be required within 2 days of the date of the communication of the finding.
The draft Vat return and all other information that is to be submitted therewith should be signed or initialled by the Client, in order for us to confirm that the Client is in agreement and acceptance therewith. We will submit the final Vat return once such signed draft Vat return is received. In these circumstances, a suitable date/timetable, to be agreed to by all parties, will be determined to ensure the timeous submission thereof.
We look forward to full co-operation from your staff.
Working papers
The working papers produced in conducting the Vat engagement are the confidential property of the Vat engagementor and are not available for inspection.
Contracted Vat engagementors
It is possible that your Vat engagement could be conducted by an independent Vat engagement firm contracted by us. These Vat engagementors will conduct the Vat engagement under our supervision and on the same terms and conditions as set out in this letter. We, however, remain responsible for the Vat engagement as agreed herein.
Fees
Our fees are based on the time spent on your affairs by our managers and staff plus out-of-pocket expenses. Time may be spent on the Vat engagement at your premises or our premises as necessary. Individual hourly rates vary according to the experience and skills required and the responsibility involved. Our fees will be billed mid-month and at month end during the course of the Vat engagement and settlement is due within 30 days of date of invoice. Where the fees due are not paid at the end of this period, interest of 2% per month will be charged and legal proceedings may be implemented to collect amounts outstanding.
Liaison
The content of this Terms and Conditions and the Clients documents may be used by the Vat engagementor as the basis for a relationship survey after completion of the Vat engagement process. If you have any questions about the Vat engagement generally, or have any concerns about the quality of service you receive, you should contact your applicable Record manager, at the particular Taxco office, as soon as possible.
Staff office accommodation and resources
You are further required to render reasonable assistance to the Vat engagementor or the authorised Vat engagement personnel performing this Vat engagement. You are further required to accede free of charge all reasonable requests of the authorised Vat engagementors to facilitate the expeditious completion of the Vat engagement, including the provision of suitable office accommodation and parking at your premises, logistical support and access to office equipment. Please ensure that the authorised Vat engagementors are made aware of any security and administrative arrangements with which they should comply.
Appointment to Sign and Submit
By utilising our services you accept our Terms and Conditions, you accept our appointment as your accountant/tax or business advisor and this includes the authority to sign for and on the client's behalf and for any Company, CC, Partnership, Trust or legal person of which the client is a director, member, partner or trustee, any returns or financial statements and other documents required by the authorities from time to time. This will include, but not be limited to, VAT101, IRP101, IT12, IT14 and all other SARS, UIF, Statistics and WCA returns.
Enquiries, Payments, Registrations and Applications
The above appointment further includes the right to enquire into any matter regarding the client's affairs or that of a Company, CC, Partnership, Trust or legal person to whom the client may be associated with regarding taxation, any other levies and contributions received or paid to insurance and other companies.
The appointment further includes the right to sort out queries on any related matter, the handling of payments and the collection of refunds on the client's behalf and to make, assist and advise on registrations, applications and prospective applications for any Tax registration, amnesty, exemption, grant or deduction.
Sars e-Filing
On acceptance of our Terms and Conditions, our appointment further includes the right to electronically submit and pay any due and payable returns through SARS e-Filing and to register the client and or any Company, CC, Partnership or Trust to whom the client may be associated. Submissions and payments will only be made on confirmation by the client of the above returns, the detail contained therein, the due amounts and payment date. It is the client's responsibility to ensure that sufficient funds are available for the payment of such returns.
Client Responsibility
Our Terms and Conditions is further based on the understanding the client is the taxpayer and that it is the client's responsibility to ensure that the client's tax affairs are up to date and kept in such a manner that is required by any law and all information supplied is true and correct. The client is fully aware that Taxco can only act on information and representations provided by the client and the client accepts full responsibility for any taxation, levies, penalties and interest that may become due from time to time and exempts Taxco, it's trustees, partners, members and employees, without prejudice, from all such liabilities in this regard.
Other
Whilst we may examine the accounting records and conduct certain enquiries in relation to the books of account, we cannot be held responsible for certain acts or omissions on the part of the Client. It should be noted that certain acts, whether of commission or omission, result in the personal liability of the Client. Should you require any specific advice in this regard, please feel free to contact us. We endeavour to be of assistance to our clients on as broad as possible basis and additional services will be provided on an on-going basis, at your electronic or written request.
Please note that it is imperative that you notify our offices of any address or any other detail changes as we rely on your information so as to arrange your matters for the best possible accounting and tax consequence.
Financial Products and Investec Banking Services
It is recorded that Taxco Accountants & Tax Consultants Trust IT739/97 is an accountable institution in terms of the Financial Intelligence Centre Act, No. 38 of 2001 (FICA) and is obliged to comply with the provisions of FICA, which provisions, inter alia requires Taxco Accountants & Tax Consultants Trust to establish and verify the identity of its clients. The client agrees to provide to Taxco Accountants & Tax Consultants Trust all of the supporting, verification and other documentation prescribed in terms of FICA and as required by Taxco Accountants & Tax Consultants Trust should use be made of their services.
By offering the Private Bank product, Taxco Accountants & Tax Consultants Trust is rendering and intermediary service as contemplated in the Financial Advisory and Intermediary Services Act, No. 37 of 2002 (FAIS) and by collecting or accounting for moneys payable by the client to a product supplier in respect of a financial product, Taxco Accountants & Tax Consultants Trust acts as agent of such client. The client in instructing Taxco Accountants & Tax Consultants Trust to render the intermediary service and to deposit the client’s money with Investec, is acting as principal, thereby creating and establishing a banker-customer relationship between the client and Investec.
Responsibility regarding the Distribution of Information
In the event of the client planning to publish or copy our report and the financial statements, in printed or electronic format, or in any other way refer to Taxco, it's member firms, associates or it's employees in a report containing other information, the client agrees to:
(a) provide us with a draft of the document, and
(b) obtain our written consent before the documents are finalised and distributed.
If our Accounting report is reproduced, it must include the complete set of financial statements as well as the notes.
Electronic Communication
From time to time we may communicate electronically with our clients and the client must be aware that no guarantee can be given as to the correctness and safety of electronically transferred data. Electronic information can be intercepted, lost, corrupted, negatively effected and unsafe to use. We will take reasonable precautions to trace the known viruses at the time, before the transmission of electronic data. Thus, notwithstanding any collateral agreement, guarantee or representation, neither partner, any trustee, staff member or agent can be held responsible on any grounds, in any contract, delict (including negligence) or otherwise, for any error or omission resulting from and as a result of the electronic transmitting of information of the client.
The client accepts electronic communication as a proper medium of communication and will advise Taxco if another form of communication is preferred.
Work for other Clients
Our relationship with any client will not prohibit or restrict us in any way from rendering services to any other client. Standard internal procedures are in place to ensure that confidential information that is supplied to us as a result of our appointment shall be treated as confidential.
Fees, Pre-quote and Outstanding Accounts
Our professional fees are computed on the basis of the time spent on your affairs. Unless otherwise agreed, fees will be charged separately for each main class of work undertaken. Fees for professional services will be charged at an hourly rate. Fees for taxation services will be based on a fixed rate. All fees are subject to annual review. Unless otherwise agreed fees will be billed at appropriate intervals during the course of the year. Prices quoted on our website are correct at the date the website was updated. Any newer pricelist supersedes the one's on the website in its entirety.
Our prices are regularly reviewed and are subject to change without notice. For confirmation of our current prices please contact our head office as per the contact section of the website home page.
All fees are due and payable in advance, except where specific arrangements have been made. Outstanding amounts longer than 30 days from date of invoice will carry interest at 2% per month.
All work will immediately be ceased as and when the client's account is in arrears.
Further take note that any credit received from the Receiver of Revenue (SARS) will be set off against outstanding amounts of the client and/or any other account of the client's entities and the client specifically cedes the mentioned to Taxco for the settlement of the outstanding accounts.
In the event of any dispute or non-payment of an account, a statement from Taxco will suffice as sufficient proof of amounts due and owing. The client agrees to accept invoices in electronic format, but may make written requests for printed invoices from time to time. The first request for a copy Invoice will be free of charge.
Please note that details of any legal action will become part of the record of the Credit bureau, which will be noted by various people or institutions that might have queries on the client’s credit record. All legal collection costs and sheriff's costs plus interest will be for the client's account.
Joint Liability
If the client is a Partnership, Company, Close Corporation, Club, Trust or any other legal entity, then by their acceptance of these Terms and Conditions, the individual partners, directors, members or trustees of the client bind themselves both as a legal entity and jointly and severally as individuals for all the client's obligations to Taxco under or arising out of this appointment including, but without limiting the generality of the a foregoing, the payment of any compensation or damages or legal fees which maybe payable by the client as a result of the cancellation or termination of this appointment. Similarly, joint venture partners shall be jointly and severally liable for all their obligations as clients under/or arising out of this appointment.
Lien and Retention right to Documents
It is agreed that Taxco have an unrestricted lien and retention right to all documents of the client of any nature, until payment for their services rendered, are settled in full.
Professional Indemnity
All work performed by Taxco, it's trustees and/or employees are subject to the following limitations:
Any liability, howsoever incurred and in respect of all losses and/or damages, is limited to an amount equal to twice the professional fees paid to the Taxco firm in consideration for the particular work, or to an amount of R500,000-00, whichever is the lesser amount.
Our liability is furthermore limited, in respect of any item of work, to a period of 3 years from the completion date of that particular work, giving rise to liability on our part, notwithstanding the provisions of the Prescription Act 68 of 1969 (as amended).
These two limitations are in accordance with the recommendations made by our Professional Indemnity insurers.
The client will be liable to make good any costs, damages and/or legal charges should such costs, damages and/or legal charges be in relation to Taxco being held responsible for any actions caused by the client and/or his non-adherence to advice from Taxco's trustees, members or personnel.
Addresses and Notices
All parties choose their postal addresses as their primary address for notices. Any notice given in connection with this Terms and Conditions may be delivered by email, fax, hand; or be sent by prepaid registered post to the address chosen by the party concerned.
Any notice or process delivered on any party in connection with any matter or subject arising out of this Terms and Conditions, any other appointment or any notice shall be deemed to have been delivered if handed to any responsible person at the domicilium chosen by any party and it shall not be necessary to hand such process or notice to any party personally.
A notice given as set out above shall be presumed to have been duly delivered:
On the date of delivery if delivered by hand;
On the date of email and fax confirmation of delivery receipt;
On the fourth day from the date of posting including the date of posting if posted by pre-paid registered post from within the RSA.
Website Technical Issues
Every effort is made to keep our website up and running smoothly. However, Taxco takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues.
Taxco Information Privacy Policy
This privacy policy sets out how Taxco uses and protects any information that you give when you use our services or our website.
Taxco is committed to ensuring that your privacy is protected. Should we ask you to provide certain information by which you can be identified, then you can be assured that it will only
be used in accordance with this privacy policy.
We are committed to ensuring that your information is secure. In order to prevent unauthorised access or disclosure we have put in place suitable physical, electronic and managerial procedures to safeguard and secure the information we collect on and offline.
We understand the importance of protecting children's privacy, especially in an online environment. Our business and website is not intentionally designed for or directed at children under the age of 13 years, accept where they are considered to be clients, i.e. beneficiaries of a trust. It is our policy never to knowingly collect or maintain information about anyone under the age of 13 for marketing purposes.
We recognise our responsibility for protecting the privacy of your personal information. If you have questions or comments about our safe guarding of your personal information, please use the “Contact Us” feature on our website or contact our compliance officer directly.
You may request details of personal information, which we hold about you. A small fee will be payable. If you would like a copy of the information held on you please write to P.O. Box 220, Bloemfontein, 9300 or email: taxco@taxcotrust.co.za.
If you believe that any information we are holding on you is incorrect or incomplete, please write to or email us as soon as possible, at the above address. We will promptly correct any information found to be incorrect.
How we gather Information from Users
How we collect and store information depends on the web page you are visiting, the activities in which you elect to participate and the services requested. For example, you may be asked to provide information when you register for access to certain portions of our website or request certain features, such as newsletters or when you order a product or service from the Taxco Shop. You may provide information when you participate in lucky draws and contests, message boards and blogs, and other interactive areas of our website.
Like most websites, www.taxcotrust.com also collects information automatically and through the use of electronic tools that may be transparent to our visitors. For example, we may log the name of your Internet Service Provider or use cookie technology to recognize you and hold information from your visit. Among other things, the cookie may store your user name and password, sparing you from having to re-enter that information each time you visit, or may control the number of times you encounter a particular advertisement while visiting our website.
As we adopt additional technology, we may also gather information through other means. In certain cases, you can choose not to provide us with information, for example by setting your browser to refuse to accept cookies, but if you do you may be unable to access certain portions of the website or may be asked to re-enter your user name and password, and we may not be able to customize the website’s features according to your preferences.
What we do with the Information we collect
Taxco will use information supplied to us for the purpose of rendering and improving our products and service as requested and/or for internal record keeping purposes. We will not sell, distribute or lease your personal information to third parties, unless we have your permission or are required so by law. We may use your personal information to send you promotional information about third parties, which we think you may find interesting, if you tell us that you wish this to happen.
From time to time, we may also use your information to contact you for market research purposes. We may contact you by email, phone, fax or mail. We may use the information to customise the website according to your interests.
We collect information in terms of legal requirements, i.e. FICA, to enhance your visit to our website and to deliver more individualised services and for our own marketing campaigns. We respect your privacy and do not share your information with anyone.
Aggregated information (information that does not personally identify you) may be used in many ways. For example, we may combine information about your usage patterns with similar information obtained from other users to help enhance our website and services (e.g., to learn which pages are visited most or what features are most attractive). Aggregated information may occasionally be shared with our advertisers and business partners. Again, this information does not include any personally identifiable information about you or allow anyone to identify you individually.
We may use personally identifiable information collected on www.taxcotrust.com to communicate with you about your registration and customisation preferences; our Terms and Conditions, privacy policies and new services and products offered by Taxco, it’s member firms and our business associates and other topics we think you might find of interest.
Personally identifiable information collected by www.taxcotrust.com may also be used for other purposes, including but not limited to website administration, troubleshooting, processing of e- commerce transactions, administration of lucky draws and contests, and other communications with you. Certain third parties who provide technical support for the operation of our website (our Web hosting service for example) may access such information. We will use your information only as permitted by law. In addition, from time to time as we continue to develop our business, we may sell, buy, merge or partner with other companies or businesses. In such transactions, user information may be among the transferred assets.
We may also disclose your information in response to a court order, at other times when we believe we are reasonably required to do so by law, in connection with the collection of amounts you may owe to us, and/or to law enforcement authorities whenever we deem it appropriate or necessary. Please note we may not provide you with notice prior to disclosure in such cases.
PAIA Manual
Listed below is the link to the Taxco manual that has been prepared in terms of the Promotion of Access to Information Act.
General Website Disclaimer
The use of our website, www.taxcotrust.com is further subject to the following general terms of use:
The content of the pages of the website is for your general information and use only. It is subject to change without notice.
The information contained herein is not intended to constitute accounting, tax, investment, legal or other professional advice or services and should not be acted on without obtaining professional advice appropriately tailored to your individual needs.
You acknowledge that such information and materials may contain inaccuracies and errors and may be outdated and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. Applicable law may not allow the limitation or exclusion of liability or incidental or consequential damages, so the above limitation or exclusion may not apply to you. In no event shall Taxco's total liability to you for all damages, losses, and causes of action (whether in contract, tort, including but not limited to, negligence or otherwise) exceed the amount paid by you, if any, for accessing this website or the specific service utilised.
Before making any decisions or taking any action that might affect your personal business or finances, you should consult a qualified professional adviser.
The advice that we give via the Taxco website is based on the information provided by you. It is solely for use by the party to whom it is addressed and may not be relied upon by any other person for any purpose whatsoever.
Due care is taken to ensure that the advice that we give you is correct; however, having regard to the circumstances under which the advice is given, Taxco will have no responsibility to you or to any other person for any claim of any nature whatsoever arising out of or relating to this advice, and you indemnify Taxco, it’s member firms and correspondent firms and employees and agree to hold them harmless against any such claim.
Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information, products and materials found or offered on this website for any particular purpose.
Your use of any information or materials on this website is entirely at your own risk, for which we shall not be liable. It shall be your own responsibility to ensure that any products, services or information available through this website meet your specific requirements.
This website contains material which is owned by or licensed to us. This material includes, but is not limited to, the design, layout, look, appearance and graphics. Reproduction is prohibited other than in accordance with the copyright notice, which forms part of these Terms and Conditions.
All trade marks reproduced in this website which are not the property of, or licensed to, the operator are acknowledged on the website.
You agree to treat as strictly private and confidential any Subscriber Code, username, user ID, or password which you may have received from www.taxcotrust.co.za, and all information to which you have access through password-protected areas of Taxco's website and will not cause or permit any such information to be communicated, copied or otherwise divulged to any other person whatsoever.
Unauthorised use of the Taxco website may give rise to a claim for damages and/or be a criminal offence.
Links to other Websites and Resources
The Taxco website may contain links to enable you to visit other websites of interest easily. However, once you have used these links to leave our website, you should note that we do not have any control over that other website. Therefore, we cannot be responsible for the protection and privacy of any information, which you provide whilst visiting such websites and such websites are not governed by the Taxco privacy policy. You should exercise caution and look at the privacy statement applicable to the website in question. These links are provided for your convenience to provide further information. They do not signify that we endorse the website(s). We have no responsibility for the content of the linked website(s).
You should also be aware that if you voluntarily disclose personally identifiable information on message boards or in chat areas, that information can be viewed publicly and can be collected and used by third parties without our knowledge and may result in unsolicited messages from other individuals or third parties. Such activities are beyond the control of Taxco and this policy.
You may not create a link to the Taxco website from another website or document without Taxco's prior written consent.
How we use Cookies
A cookie is a small file, which asks permission to be placed on your computer's hard drive. Once you agree, the file is added and the cookie helps analyse web traffic or lets you know when you visit a particular website. Cookies allow web applications to respond to you as an individual. The web application can tailor it’s operations to your needs, likes and dislikes by gathering and remembering information about your preferences.
We use traffic log cookies to identify which pages are being used. This helps us analyse data about web page traffic and improve our website in order to tailor it to customer needs. We only use this information for statistical analysis purposes and then the data is removed from the system.
Overall, cookies help us provide you with a better website, by enabling us to monitor which pages you find useful and which you do not. A cookie in no way gives us access to your computer or any information about you, other than the data you choose to share with us.
You can choose to accept or decline cookies. Most web browsers automatically accept cookies, but you can usually modify your browser setting to decline cookies if you prefer. This may prevent you from taking full advantage of the Taxco website.
Copyright and other Legal notices
The Taxco website and it’s content is copyright of Taxco Accountants and Tax Consultants Trust, registration no. IT739/97.Taxco 2010. All rights are reserved.
Any redistribution, reproduction or copy of part or all of the contents of this website in any form is prohibited. You may not transmit it or store it in any other website or other form of electronic retrieval system.
If any provision of this Terms and Conditions is void or unenforceable in whole or in part, the remaining provisions of the Taxco Accountants and Tax Consultants Terms and Conditions of use of our services and website shall not be affected thereby.
Taxco E-mail Disclaimer
Emails sent from Taxco are subject to the following terms and conditions:
"If you are not the intended recipient of this email (or such person's authorised representative), then:
(a) Please notify the sender of this email immediately by return email, facsimile or telephone and delete this message from your system;
(b) You may not print, store, forward or copy this message or any part thereof or disclose or cause information in this message to be disclosed to any other person.
The information in or attached to this email message is confidential and may be subject to legal privilege and client confidentiality. Nothing in this message constitutes an offer, warranty or representation from us. While we are entitled to rely on and hold you to your offers, warranties, representations or other statements made in or attached to this message, our employees or representatives may not conclude agreements or otherwise bind our company via email unless the email is sent from an authorised representative using a mutually agreed upon digital certification process.
None of our employees or representatives are permitted to send unsolicited messages ("spam") and our company cannot be held liable therefore. If you regard this message as spam, please inform us immediately by sending an email to pierre@taxcotrust.co.za (Internal compliance officer)
If this message contains offensive, derogatory or defamatory statements or materials, it means the message has been sent outside the sender's scope of employment with us and only the sender can be held liable in his/her personal capacity. This disclaimer applies to our original message, any attachments and all subsequent messages or attachments.
The email and its attachments may be confidential and are intended solely for the use of the person to whom it is addressed. Any views or opinions expressed are solely those of the author and do not necessarily represent those of Taxco. When addressed to our clients any opinions, advice or information contained in this email should be acted upon only after proper and adequate consultation with the engagement partner and only if supported by a signed letter from the partner.
If you are not the intended recipient of this email and its attachments, please delete it from your system. You must take no action based thereon, nor must you copy, distribute or show it to anyone.
Although we make every effort to ensure this message is free of malicious program code, Taxco accepts no liability for any loss or damage, whether direct, indirect, consequential or economic, however caused, which may result directly or indirectly from this communication or from any attached files.
Save for bona fide company matters, Taxco does not accept any responsibility for any material contained in this email.
Please contact the sender if you believe you have received this email in error.
Terms and Conditions of Sale of Products and Services via the Taxco Shop (www.taxcotrust.com)
These terms and conditions will regulate the sale of accounting, tax and other services and products by Taxco to you and as ordered by the user from the website at www.taxcotrust.com.
You should read these terms and conditions thoroughly before placing an order for the servies or products as he/she/it will be requested to accept these terms and conditions. If the terms and conditions are not acceptable to the you, then no order should be placed.
To place an order, you should be at least 18 (eighteen) years old to enter into a valid and binding transaction with Taxco.
Until such time as your order has been received and accepted by Taxco, in writing by e-mail at the e-mail address the Client has provided in this order, no contract for the sale of the service or product will come into effect between Taxco and the Client. Furthermore, Taxco shall be under no obligation to accept the Buyer’s order.
Once your order has been accepted by Taxco a valid and binding contract will be deemed to have come into effect between Taxco and the Client.
Sale of Services and Products
The Client herewith purchases the services or products specified in his/her/its shopping basket from Taxco at the quoted amounts as reflected in the total purchases window of the Client's shopping basket and to which the delivery costs, if any, will be added.
The base selling price of the Products shall be determined by Taxco, in its sole and exclusive discretion, from time to time.
The sale of all items shall be subject to the availability thereof or the operatioal capacity of Taxco, at that point in time. In the event that the services or products that the Client has ordered are not in stock and/or cannot be sourced Taxco will inform the Client thereof as soon as possible and refund or credit the Client with such amount which has been paid by the Client in respect of such services or products.
Quantities of products ordered by the Client are subject to availability. In the event of production difficulties or product shortages, Taxco may allocate sales and deliveries at its sole discretion.
The selling price, description and specification of the services and products ordered are as reflected on our website at the time of the placement by the Client of his/her/its order.
While Taxco endeavours to ensure that the prices of the items reflected in the Taxco Shop or on the website are accurate at the time of the placement by the Client of the order, errors pertaining to the pricing of the items or increases by the Supplier/Manufacturers which have not been relayed to Taxco on the date of the purchase, may occur. If an error is found to exist or the prices of any of the items purchased by the Client may have been increased without the website having been updated, prior to the delivery or shipping of the items, Taxco shall inform the Client thereof and the Client shall have the option of reconfirming the order at the correct price or cancelling the order. If the order is cancelled the Client will be refunded or re-credited for any sum that the Client has paid in respect of the items.
All selling prices reflected on Taxco's website are inclusive of VAT.
The minimum quantity of items that a Client shall be obliged to purchase with any single order shall be determined by Taxco, in its sole and exclusive discretion, and shall be reflected on the website from time to time.
Payment
All payments shall be deposited into the bank account with the particulars provided by Taxco to the Client from time to time on the website within 7 (seven) days from the date of the issue by the Seller of a pro forma invoice or made via Netcash credit card clearing facilities on ordering of the Product in the Taxco Shop.
Unless agreed otherwise the Client shall pay the full purchase price to Taxco, inclusive of VAT in cash, free of exchange, deduction or set-off before shipment and delivery of the service or product to the Client. No shipment shall be made prior to clearance/authorization of the Client’s payment.
In the event that Taxco agrees to amended terms and conditions pertaining to payment and/or delivery of the services and products the Client shall be obliged to take delivery of and make payment to Taxco of the total value of the services and products purchased by the Client even in the event that the Client accepts delivery of the services or products in more than one batch.
Delivery
Taxco will ensure that the servies and/or products ordered by the Client will be delivered to the address provided by the Client within a reasonable time after the placement of a specific order, taking into account the volume of such order, the availability of stock and the co-ordinates of the delivery address.
Delivery costs are excluded from the Selling Price, unless it is specifically indicated that it is included therein.
The Client shall not be entitled to return or deny any services or products properly supplied without the prior written consent of Taxco and in which event Taxco shall be entitled to payment of a handling charge calculated at the rate of 10% of the value of the products supplied. In the event that such consent is provided the Client will be responsible for the return of the products at the exclusive cost of the Client.
In the event that the products are exported from the Republic of South Africa the Client will be responsible for complying with any and all legislation, regulations or bylaws governing the import of products into the Country of destination. The Client shall furthermore be responsible for payment of all duties or taxes levied on the Client or the products by the Country of destination.
Ownership and Risk
All rights of ownership attaching to the products shall at all times remain vested in Taxco until such time as the products have been fully paid for. Notwithstanding, all risk in and responsibility for the products shall pass to the Client on the date of receipt thereof by the Client.
Quality and liability
All products are sold “voetstoots” and as they are and Taxco gives no warranties of any other nature in respect of the products supplied and sold herewith.
Taxco does not provide any warranty in respect of the quality of the products and does not warrant that products will be fit for the use thereof by the Client for the purpose for which the product is intended. The general warranties provided by the Supplier/Manufacturer of the product, if any, shall be the only warranty in respect of the product and any claim in respect of such warranty shall be made good by the supplier/manufacturer of such product and Taxco shall have no liability or obligation in respect of such warranty.
As the products are sold by Taxco to the Client in the condition that it is received in from the Supplier/Manufacturer, Taxco does not guarantee the level of synthecity of the product in the event that any synthetic or part/semi synthetic products are purchased.
The Client herewith indemnifies and holds Taxco harmless against any loss, damage, expense and/or liability which it may suffer and/or incur following the delivery of the products by Taxco to the Client in terms of this agreement or following the use of the product by the Client, whether such product was defective or not.
Without derogating from the generality of the aforegoing, the Client herewith indemnifies Taxco and holds it harmless against any loss, liability, cost or damage suffered by the Clien and/or third party, as the case may be, in relation to the products, including but not limited to any indirect, contingent or consequential loss including loss of revenue, loss of business and loss of profit, howsoever arising.
Taxco shall not be liable for any loss, damage, expense and/or liability which it may suffer through the actions of the delivery company and such delivery company shall be solely responsible for any such loss, damage, expense and/or liability.
Intellectual Property
The Client acknowledges that the intellectual property rights in and to the material and/or software contained on Taxco’s website and the trademarks and brands included therein shall vest with and remain exclusively the property of Taxco and the Client shall not be entitled to make use of such rights, trademarks or brands without the written consent of Taxco.
Force Majeur
Taxco shall not be liable for any delay in performance directly or indirectly caused by or resulting from acts of nature, fire, flood, accident, riot, war, government intervention, embargoes, strikes, labor difficulties, equipment failure, late deliveries by suppliers or other difficulties which are beyond the control, and without the fault of Taxco.
Confidentiality
Taxco shall take all reasonable precautions to ensure that the information and details obtained from the Client during the order and payment process remain secure. Taxco shall however not be liable in any manner for unauthorized access to information supplied by the Client to Taxco.
General
In the event that Taxco institutes legal action for the recovery of any monies due in respect of the sale of any seriec or products in terms hereof, the Client shall be liable for all legal costs incurred in such legal action on a legal practitioner and client basis and in addition thereto any collection charges levied by the said legal practitioner in respect of any monies collected.
The Client consents to the jurisdiction of the magistrate’s court in the Republic of South Africa having jurisdiction in terms of section 45 of the magistrate’s court act, in regard to any proceedings that may be instituted by Taxco against the Client in terms of this agreement, notwithstanding that the amount claimed may be beyond the jurisdiction of that magistrate’s court.
The Client choose as his/her/its domicilium citandi et executandi for all purposes, whether in respect of court process, notices or other documents or communications of whatsoever nature (including the exercise or any option), the addresses as provided by him/her/it toTaxco when placing his/her/its order on the website.
No extension of time or waiver or relaxation of any of the provisions or terms of this disclaimer shall operate so as to preclude any party thereafter from exercising its rights.
South African Jurisdiction and Disputes
Your use of the Taxco website and any dispute arising out of such use is subject to the laws of the Republic of South Africa, as it is applied to agreements entered into and to be performed entirely within such jurisdiction.
To the extent you have in any manner violated or threatened to violate Taxco's and/or it’s member firms or associates intellectual property rights, Taxco and/or it’s member firms or associates may seek injunctive or other appropriate relief in any court in South Africa, and you consent to exclusive jurisdiction and venue in such courts.
If a dispute arises under this agreement, we agree to first try to resolve it with the help of a mutually agreed upon Bloemfontein mediator in the Bloemfontein municipal area. Any costs and fees other than attorney fees associated with the mediation will be shared equally between us.
If it proves impossible to arrive at a mutually satisfactory solution through mediation, we agree to submit the dispute to binding arbitration at the following location: Bloemfontein. Judgment upon the award rendered by the arbitration may be entered in any court with jurisdiction to do so.
Change of Terms and Conditions and other Policies
Taxco may change these Terms and Conditions of use of their services, products and website, other policies and disclaimers from time to time by updating this page. You should check this page regularly to ensure that you are cognizant of any changes. Any and all information is subject to change without notice. This policy is effective from 01 August 2010.
Terms and Conditions – Entire agreement
The above Terms and Conditions constitutes the entire agreement between the parties with regard to the matters dealt with herein and no representations, terms, conditions or warranties express or implied not contained in this Terms and Conditions shall be binding on the parties. No indulgence granted by Taxco shall constitute a waiver of their rights under these Terms and Conditions; accordingly, Taxco or such indulgence shall not be precluded as a consequence of having granted such indulgence, from exercising any rights.
Terms and Conditions – Acceptance
The Terms and Conditions are accepted by the client when he makes use of the Taxco website, or by signing any printed copy of the Terms and Conditions and this acceptance is effective indefinitely, unless it is terminated, amended or suspended by either party by giving written notice thereof to the other.
Acceptance and Cessation by Client
I acknowledge your Terms and Conditions set out above, including the annexures, where applicable, by making use of your website. I have read the Terms and Conditions, Disclaimers and other Policies governing the terms of your appointment, services and products . I understand the contents thereof and I have taken note of the contents and fully understand my duties and responsibilities contained therein and accept the above Terms and Conditions of your appointment, your services and use of the website.