{"id":11782,"count":1,"description":"Therefore, founders should determine the applicable return requirement for the relevant tax period rather than simply assuming that an ITR is unnecessary.\r\n

What If the Company Has No Transactions?<\/h2>\r\nIf a newly incorporated company genuinely has no income and no financial activity, its tax position may differ from a company that has incurred expenses or received money.\r\n\r\nThis is why the company's books, bank account and other records should be reviewed before deciding whether a return is required.\r\n

Important Tax Update for 2026<\/h2>\r\nThe tax framework has also changed in 2026, with the Income Tax Act, 2025 applying from 1 April 2026. Companies should identify the correct tax year and applicable provisions when reviewing current compliance.\r\n\r\nFor example, the tax treatment for an earlier assessment year should not automatically be applied to a Tax Year beginning under the new framework.\r\n

What Should a New Company Check?<\/h2>\r\nBefore deciding that no income-tax compliance is required, review:\r\n