The Companies and Intellectual Property Commission (CIPC) has seen annual returns lodged online jump from between 1 500 to 2 000 after taking its new system live.
The commission, which was formed through a merger of the Office of Companies and Intellectual Property Enforcement and the Companies and Intellectual Property Registration Office, shut down the system last month to revamp it.
In a statement, it says it successfully implemented its revised online Annual Return Filing System last Monday. The month-long shutdown was done to undertake a thorough review and effect substantial programming changes.
All companies and close corporations are required by law to file their annual returns with the CIPC every year. The purpose of the returns is to confirm whether a company or close corporation is still trading, or if it will be in business in the near future, and annual fees are based on turnover.
The CIPC waived penalties for late filing while the system was down. "Companies who were due to file in July 2013 should file on or before 30 September 2013, as penalties will apply thereafter," it says.
On average, the commission used to receive between 1 500 and 2 000 electronic returns a day, yet - within the first 24 hours of the new system going live - this jumped to more than 8 000. By Monday, more than 31 000 returns were successfully lodged, it says.
However, there is still a data issue that the office is working on. It explains that, historically, due to challenges with the previous system, a few filings show as being unpaid when this is not the case.
"The percentage of enquiries relating to this is very small, and minimal enquiries have been received since launching the new Web service," it says.
The CIPC says the electronic system is just one of a number of initiatives that it is implementing to improve efficiencies and encourage electronic transactions. It did not indicate what other services are in the pipeline.
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