PBO Status Registration
A PBO is an organisation that meets the requirements prescribed in section 30 of the Income Tax Act (the IT Act) and which may apply for approval to the Commissioner of the South African Revenue Service (the Commissioner), to enjoy the benefit of certain tax concessions.
Approved PBOs have the privilege and responsibility of spending public funds, which they derive from donations or grants, in the public interest on a tax-free basis. The donations or grants may be received from the general public or directly or indirectly from the State. It is therefore important to ensure that exempt organisations use their funds responsibly and solely for their stated objectives, without any personal gain being enjoyed by any person including the founders and the fiduciaries.
MUST KNOW- SARS Tax Clearance Certificate
- the tax clearance certificate is a document issued by SARS
- the tax clearance confirm that your affairs are all in order with the SARS.
- the tax clearance certificate is valid for 1 year.
- the tax clearance certificate can be used for "tender" or "good standing".
- to qualify all tax and other return submissions and payments must be up to date.
BEE & EME AFFRIDAVID
Any entity with an annual revenue less than R 10 million qualify as an Exempt Micro Enterprise (eme).
All start-up and new registered companies qualify as an Exempt Micro Enterprise (eme).
- Level 1 issued if black ownership is 100%.
- Level 2 issued if black ownership is 51% or more.
- Level 4 issued if black ownership is less than 51%.
Bee affidavits are now required as per B-BBEE Codes of Good Practice Government Gazette No 36928
Bee certificates are no longer used for any Exempt Micro Enterprise Entities who do not fall in any sector charter.
As of 1 May 2015 Bee Eme Certificates are no longer required for exempt entities.
- The Revised Bee Codes allows you to confirm your Bee status if your turnover is less than R 10 million pa.
- All that is now required is a Bee Eme Affidavit as per the revised Bee Codes of Good Practice No 36928.
- We can draft a professionally designed B-BBEE Eme Affidavit