‘Ruling could take parties unaware’ – Piet Nel. JOHANNESBURG – Public benefit organisations (PBOs) should take note of a new binding ruling issued by the South African Revenue Service (Sars), which could result in the loss of their tax exemption on business undertakings or trade activities. Last month, Sars issued a binding general ruling, which aims to provide clarity on the concept “substantially the whole”.
Tag: public benefit organisation
SARS : Basic Guide to Income Tax for PBO and Donations deductions
In South Africa, an organisation that has a non-profit motive or is established or registered as a non-profit organisation does not automatically qualify for preferential tax treatment. An organisation will only enjoy preferential tax treatment after it has applied for and been granted approval as a Public Benefit Organisation (PBO).