Public Benefit Organisations
A PBO is any organisation which is: a non-profit company (NPC) as defined in section 1 of the Companies Act or a trust or an association of person that has been incorporated, formed, or established in the Republic.
Quick Facts
PBO is a specialised field and the process of registration is cumbersome and could take a fair amount of time to be finalised if the taxpayer wants to take on the task themselves. Not only is the registration process a daunting task for a first comer, but the admin and legal requirements cannot be researched entirely on the web-environment.
The Process
– PBO Specialists:
We had truly taken a indebt view and have developed a method that could guarantee a month turnaround from submission to registration at SARS. The process guarantees a high success rate as the turnaround time depends entirely on the type and quality of documents required and requested as per the type of entity registered.
Positioning
– PBO Structure:
The first step will always be to select the entity in which you want to utilise as a PBO (NPC, trust or organisation), taken into consideration the bigger picture and where this type of entity fits into the bigger picture or corporate structure.
Registration
– Dealing with SARS:
The next step will relate to SARS entirely as the entity must be registered as a PBO (in some cases as an NPO with the DSD). The process can be truly daunting for a first timer and we made the process simple to understand and guarantee success.
Administration
– Managing your PBO:
The last step would be to manage and administer the PBO according to various tax laws and SARS interpretation notes. The watchdog for these entities is SARS and a clear and indebt knowledge of tax law is key, as these entities are completely different in its essence and administratively more complex than corporate companies.
Peace of mind
– Ensuring compliance:
We have over 20 years of experience within this specialised field. Due to the ever-increasing focus of government and SARS upon this sector it has become more important than ever before that administration are performed in strict adherence to tax law and thereby ensuring that these entities doesn’t fall prey to the tax net.
