Helping NPC's on how to apply for income tax exemption.
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Lukho Mkwedi returns to the studio with Blessing Ndabula to help NPCs (Non‑Profit Companies) understand how to apply for an income tax exemption.
In simple terms, they explain that an NPC is not automatically tax‑exempt; it must apply to SARS for approval as a Public Benefit Organisation (PBO). Once approved, the NPC can be exempt from income tax on receipts and accruals from its approved public benefit activities, but may still pay tax on certain trading income above the basic exemption threshold. The goal of the discussion is to empower NPCs to apply correctly, understand their ongoing tax obligations, and make full, lawful use of the benefits of tax exemption in serving the public.
#LukhoMkwedi #BlessingNdabula #NPC #NonProfitCompany #IncomeTaxExemption #TaxExemption #SARS #TaxCompliance #LegalTaxBenefits #RadioPulpit
In simple terms, they explain that an NPC is not automatically tax‑exempt; it must apply to SARS for approval as a Public Benefit Organisation (PBO). Once approved, the NPC can be exempt from income tax on receipts and accruals from its approved public benefit activities, but may still pay tax on certain trading income above the basic exemption threshold. The goal of the discussion is to empower NPCs to apply correctly, understand their ongoing tax obligations, and make full, lawful use of the benefits of tax exemption in serving the public.
#LukhoMkwedi #BlessingNdabula #NPC #NonProfitCompany #IncomeTaxExemption #TaxExemption #SARS #TaxCompliance #LegalTaxBenefits #RadioPulpit
