Obtaining a Broad-Based Black Economic Empowerment (BBBEE) certificate for your company may seem like a lot of hard work, tedium and jumping through bureaucratic hoops but it doesn’t have to be. A certificate can give you an edge over competitors and open a lot of doors for business growth.
One of the biggest benefits of having a BBBEE certificate is being able to conduct business with government sectors (including municipalities) and public entities. A certificate allows a company to tender and the higher the level of your certificate, the better your chances of winning. There are eight levels of BBBEE compliance, with Level 1 being the highest and most desirable.
Other advantages of having a BBBEE certificate include having a better chance of securing contracts with large companies and big industry names, because they are encouraged to do business with smaller BBBEE-compliant companies. A certificate allows you to participate as a supplier in the lucrative chain of preferential procurement.
A Tax Clearance Certificate is a document issued by the South African Revenue Service which validates your status as taxpayer and confirms that your tax affairs are in order at the date of issue. TCCs are required for tender applications, to reflect "good standing”, for foreign investment, and for emigration purposes. TCCs pertaining to tenders and "good standing” are of importance for many of our clients since these TCCs are often required by businesses in order to bid for a tender or render a particular service. Following is a brief overview of the application process and requirements relating to these two types of TCC.