When to use a B-BBEE Affidavit instead of a Certificate
Your Turnover threshold determines if you have to use a B-BBEE Affidavit to confirm your B-BBEE Status or go through a SANAS B-BBEE verification process to obtain a Certificate.
The following Annual Turnover threshold determines if you are an EME (Exempted Micro Enterprise), QSE (Qualifying Small Enterprise) or a Generic enterprise, and this will determine if you will be able to sign an Affidavit only or need to apply for a SANAS B-BBEE Certification process.
Key Notes on Affidavits vs Certificates
- Most Sectorssome text
- An Affidavit is required if you are classified as an EME.
- If your business is more than 51% Black Owned, you may also use an Affidavit as a QSE.
- Construction Sectorsome text
- A SANAS Certification process is mandatory for turnovers exceeding:some text
- R 3 mil for Contractors.
- R 1.8 mil for BEPs.
- A SANAS Certification process is mandatory for turnovers exceeding:some text
- Transport Sectorsome text
- Transport entities cannot use an Affidavit.
- For turnovers below R 5 mil, an auditor letter is permitted.
- A SANAS Certification process is required for turnovers above R 5 mil.
Need Assistance?
If you need more guidance on your B-BBEE status or the appropriate process for your sector, feel free to contact us at info@elevateadvisory.co.za or visit www.elevateadvisory.co.za.