The Industrial Development Corporation (IDC) is seeking a service provider to conduct Country by Country (CBC) reporting for the fiscal years 2024 and 2025. This includes preparing and filing CBC reports, master files, and local files with relevant tax authorities. The service provider must also analyze transactions between IDC subsidiaries and their foreign domiciled subsidiaries. Bidders are required to submit their proposals electronically by May 6, 2026, at 11:00 AM. The bid validity period is 120 days. The evaluation process includes initial screening, technical functionality evaluation (with a minimum score of 70%), and a preference point system based on price and specific goals. The IDC reserves the right to award the contract to the highest scoring bidder unless objective criteria justify otherwise. Bidders must ensure tax compliance and provide all required documentation as per the returnable schedules. Enquiries regarding the RFP will not be entertained after April 24, 2026.
The bid responses must be submitted by 6 May 2026, not later than 11:00 AM. Bidders are advised to submit at least 30 minutes before the deadline to avoid technical challenges.
Payments will be linked to specified deliverables after such deliverables have been approved by the IDC. Payments will be made within 30 days from the date of invoice.
The contract will be awarded to the bidder scoring the highest points, unless an objective criterion justifies the award to a different bidder. Objective criteria include reputational risk, concentration risk, financial capability, and past performance.
Bidders must have relevant international tax experience in providing and submitting country-by-country reports to SARS, with at least two references from the past five years. Key personnel must have relevant qualifications, skills, and experience in international tax and compiling country-by-country reports.
The service provider should consider the use of the voluntary disclosure programme to reduce any concomitant penalties and interest that may arise as a result of late filings to SARS. The scope of work also includes assisting in objecting against any penalties and interest imposed on the late submission of CBC reports.
The IDC reserves the right to conduct site visits at bidders' corporate offices and/or at client sites if so required.
If a bidder has reason to believe that the functional requirements are not open/fair or are written for a particular service provider, the bidder must notify IDC Procurement within five (5) days after publication of the RFP.