Terms & Conditions for Companies
In this engagement letter, the Pfumo Tax and Accounting Services CC firm engaged to provide you with Human Capital Services shall, unless otherwise stated, be referred to herein as “Pfumo.”
Our intention in setting out this information is to clarify the position and is not in anyway an endeavour to circumvent any statutory duties and responsibilities expected of us.
Pfumo will perform certain Human Capital Services (“Services”) for you.
Scope of Services:
The scope of Services to be provided to you will be advised to you either in writing and/or discussed with you by your Pfumo contact: Roxanne Waghorn.
From time to time during the term of the engagement these Services may be varied. We will notify you of a variation to the Services where such variation is applicable or relevant to you.
In order for you to understand the basis upon which Pfumo accepts instructions and in order to avoid any misunderstanding we record hereunder the basis under which Pfumo accepts new instructions:
- you are always liable to pay our fee unless we have specifically agreed to the contrary;
- we will render interim accounts in respect of our fees (if applicable);
- we will, at the completion of the Services, render a full statement of account;
- all accounts are payable on Accounts outstanding for 30 days or more shall bear interest at the rate of three percent (3%) per month from date of statement to date of payment;
- notwithstanding any statutory tariff which may be applicable, our charges are as per quotation;
- we charge for the time spent traveling
- VAT is not applicable;
- we reserve the right to adjust our tariff set out above in six (6) months time
We will in the prudent exercise of our sole discretion or at your specific request consult experts from time to time. Our appointment shall be deemed to include a specific mandate to do so on your behalf and that you will be liable for the professional fees payable as a result thereof.
Provision of Services:
In order for Pfumo to provide the Services to you, you agree to provide to Pfumo in a timely manner the information that Pfumo reasonable requires from you, which could, for example, include copies of your tax returns (your “Data”).
Where you have transferred the provisioning of the Services to Pfumo from another service provider, you agree that Pfumo may contact that service provider in order to obtain your Data.
Information relating to tax advice Pfumo provides to you, including communications between us or communications between Pfumo and a third party, and any material Pfumo creates in the course of providing that advice, may in some jurisdictions be privileged and protected from disclosure to the local tax authorities or any other authorities where relevant to the jurisdiction (“Client Privilege”). If the local authorities seek disclosure from you or Pfumo of written or oral communications relating to such advice, Pfumo will whenever reasonably possible discuss with you whether and how you may assert, or waive, the Client Privilege.
You require us to prepare financial statements in accordance with generally accepted accounting practice for your consideration and approval. While we may examine the accounting records and make certain enquiries in order to facilitate this work; we shall not carry out an audit. This work must not be expected to disclose defalcations or other irregularities. By specific arrangement we will process your accounting records on our in- house computer on a monthly, quarterly or annual basis.
Tax Authority Notice:
We reserve the right to disclose our files to regulatory bodies in the exercise of their powers. You acknowledge that the taxpayer is responsible for compliance with the tax law. The obligations of the taxpayer include maintaining records and providing accurate and complete disclosure of all information to the tax authorities as required by the tax law. Payments, interest and penalties may be imposed by the tax authorities on the taxpayer for failure to comply with the tax law.
Communication by email:
Unless otherwise agreed in writing with you, we may correspond by means of the Internet or other electronic media or provide information to you in electronic form. Because of the inherent risks associated with the electronic transmission of information on the Internet or otherwise, we cannot guarantee the confidentiality and integrity of any encrypted electronic communications or information which was sent or received in relation to the Services once they are outside of our firewalls.
Limitation of Liability:
We shall not be liable to you for consequential damage, indirect loss, any punitive or exemplary loss or damage. The advice which we give to you are for your sole use only and do not constitute advice to any third parties. We will provide the professional services outlined in our engagement letter with reasonable care and skill. Our advice is based on interpretation of the law and experience with the SARS. Therefore, the conclusions reached and views expressed are often been matters of opinion rather than of certainty and we cannot warrant that the SARS will necessarily reach the same conclusions. We will not be responsible for any losses, penalties, interest or additional tax liabilities arising from the supply by you or others of incorrect or incomplete information, or from the failure by you or others to supply any appropriate information or your failure to act on our advice or respond promptly to communications from us or the SARS.
With the exception of liability for death or personal injury, or loss resulting from our fraud, or any other liability for which restriction or exclusion is prohibited by law, our liability for the aggregate of all claims arising out of or in connection with this engagement during any annual period in respect of breach of contract of duty or fault or negligence or otherwise (collectively
referred to herein as “fault”) shall be no more than that proportion of the loss or damage (including interests and costs) suffered by you, which is ascribed to us by a Court of competent jurisdiction or Arbitrator allocating a proportionate responsibility to us having regard to the contribution to the loss or damage in question by you or any other person based upon relative degrees of fault; it being a term of this engagement that the provisions of section 1 of the Apportionment of Damages Act, 1956 will apply to all claims between us and “fault” and “loss or damage” as used herein shall respectively be deemed to fall within the meanings of “fault” and “damaged” as contained in section 1 of the Apportionment of Damages Act, 1956.
For the purposes of assessing the contribution to the loss and damage in question of any other person pursuant to the preceding paragraph, it is agreed that no such account shall be taken of any limit imposed or agreed on the amount of liability of such person by any agreement (including any settlement agreement) made before or after the loss and damage in question occurred.
Where there is more than one party (other than us); the limit of liability will have to be allocated among you. It is agreed that such allocation will be entirely a matter for you and you should be under no obligation to inform us of the allocation. If (for whatever reason) no such obligation is agreed, you should not dispute the validity, enforceability or operation of the limit of liability on the ground that no such allocation was agreed.
Governing Law and Dispute Resolution:
These terms of business shall be governed by and construed in accordance with the laws of the Republic of South Africa and any dispute arising out of this engagement or these terms shall be subject to the jurisdiction of the South African courts to which both parties hereby agree to submit for these purposes.
The parties may by agreement refer any dispute hereunder to arbitration in accordance with the Arbitration Act 42 of 1965.
Consent to Terms of Service:
Upon your signed acceptance below, this agreement is deemed effective as of the date of that acceptance for the whole period Pfumo is engaged to provide Services to you.
I acknowledge and agree that the terms of this Engagement Letter forms a binding agreement between me and Pfumo.
Data Privacy Consent Notice for Services
In performing Services for you, Pfumo may process personal data relating to you, including sensitive personal data such as political opinions, trade union memberships, criminal proceedings or other government issued identification numbers and financial account information, in connection with completing appropriate tax filings. In doing so, Pfumo will comply with applicable privacy laws and it’s privacy policies.
Retention of Records:
During the course of our work we will have collected information from you and will retain that information following the preparation of your return for a period of two years from the date of submission of your return (this period may be extended if SARS makes any further enquiries into your tax return). Thereafter we will return that information to you and you should retain them for a period of five years from the date of return. We need to be advised of any particular retention of documents you may require.
To the extent necessary to provide the Services to you, you hereby authorise Pfumo to:
- disclose Data to relevant authorities (which could include tax or immigration authorities depending on the nature of the Services being provided to you);
- transfer to, process and store Data outside of the SA (wherein an adequate level of data protection is ensured by Pfumo through appropriate measures such as data transfer agreements) and
- retain adequate documentation of the file in line with the applicable laws and professional standards after termination of the Services
I acknowledge and agree that the terms contained in this consent notice which shall be effective for the whole period Pfumo is engaged to provide Services to me.