n Tax Breaks Newsletter - PBOs must take care to keep tax-exempt status : public benefit organisations

Volume 2005, Issue 236
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Extracted from text ... PUBLIC BENEFIT ORGANISATIONS PBOs must take care to keep tax-exempt status By KATHY THERSBY THE recent issuing of an interpretation note by the South African Revenue Service (SARS) relating to approved investments for Public Benefit Organisations (PBOs) suggests that there is likely to be a crackdown on organisations that are using their tax-exempt status to avoid paying tax on investment returns. Tony Barrett, regional manager at BJM Private Client Services, says that historically SARS issues an interpretation note when they are about to tackle a particular issue or sector of the economy. "It would seem that SARS has become ..

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