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Draft IN on PBOs - The provision of funds, assets or other resources

18 August 2015   (0 Comments)
Posted by: Author: SARS
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Author: SARS

This draft focuses on "conduit PBOs" which provide funds to "associations of persons" which, in turn, must use such funds to carry on qualifying public benefit activities (PBAs). While the association of persons is not itself a PBO, the conduit PBO providing funds to it, must monitor how the funds are spent in order to ensure that the association of persons is using the funds for carrying on qualifying PBAs. The monitoring requirement imposed on the conduit PBO is a prerequisite for its continued approval as a PBO. 

Depending on the quality of feedback received, SAIT will be making a submission to SARS. Kindly submit all comments to by no later than 16 September 2015 .

Please click here to view draft IN.


Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.


The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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