AQUIS B-BEEE
Exempted Micro Enterprise (EME) we offer an automatic Level 4 Contributor status - No Risk of Fronting
BROAD-BASED BLACK ECONOMIC EMPOWERMENT ACT
The Codes of Good Practice—Statement 800
AQUIS Qualifies as a Small Enterprise: Scorecard and Exempted Micro Enterprises
This statement details the criteria that are used to determine if an entity is eligible to be classified as an Exempted Micro Enterprise and how AQUIS is measured in terms of the B-BBEE Codes of Good Practice.
AQUIS’ Measurement Criteria as an Exempted Micro Enterprise (EME) Exempted Micro Enterprises (EME’s) = companies with an annual total turnover of R 5 million or less Start-up enterprises are measurable as EME’s for the first year following their formation or incorporation. This provision applies regardless of the expected total revenue of the start-up enterprise. In the case where a start-up enterprise tenders for a contract of R5 million or more they will be required to provide evidence of BEE compliance.
Sectors of the economy wishing to define small, very small, and micro enterprises differently from the definition of the codes may do so either through a sector specific charter formulation process or any other relevant sector specific initiative.
AQUIS as an entity that is eligible to be an Exempted Micro Enterprise will enjoy an automatic
BBEE Status: Level 4 Contributor & No Fronting Risk
BBBEE Procurement Recognition: 100%.
Level |
BEE Score |
BEE Recognition Level |
|
1 |
>100
|
135% (Buyer Spent R1.00 =Claim points for Recognition Value of R1.35) |
|
2 |
>= 85< 100
|
125% (Buyer Spent R1.00 =Claim points for Recognition Value of R1.25) |
|
3 |
>= 75< 85
|
110% (Buyer Spent R1.00 =Claim points for Recognition Value of R1.10) |
|
4 AQUIS Certification level |
>= 65< 75
|
100% (Buyer Spent R1.00 =Claim points for Recognition Value of R1.00) |
|
5 |
>= 55< 65
|
80% (Buyer Spent R1.00 =Claim points for Recognition Value of R0.80) |
|
6 |
>= 45< 55
|
60% (Buyer Spent R1.00 =Claim points for Recognition Value of R0.60) |
|
7 |
>= 40< 45
|
50% (Buyer Spent R1.00 =Claim points for Recognition Value of R0.50) |
|
8 |
>= 30< 40
|
10% (Buyer Spent R1.00 =Claim points for Recognition Value of 0.10) |
|
Not Compliant |
>30
|
0% (Buyer Spent R1.00 =Claim points for Recognition Value of R0.00) |
Reference: Interpretive Guide to the Codes of Good Practice © 2007 The Department of Trade and Industry
In terms of Section 4.5 of Statement 000 of the Codes, the minimum
documentation required for an EME to prove its status is either its VAT or tax returns for the last 12 months or to provide an Auditor’s certificate or similar certificate issued by an Accounting Officer or a Verification Agency confirming that their annual turnover is below R5million.
Please Note: In terms of the “Broad-Based Black Economic Empowerment Act” - The Codes of Good Practice -Interpretive Guide of June 2007 as released by the DTI stipulates that “Any representation made by a QSE or an EME about its B-BBEE compliance must be supported by suitable evidence or documentation. Example: EMEs can provide an Auditor’s certificate
or similar certificate issued by an Accounting Officer or a Verification Agency confirming that their annual turnover is below R5million; NOTE: There is nothing in the codes or in this guidance note that makes it compulsory for EME”s to obtain certificates of compliance from verification agencies ”. (CLICK HERE TO DOWNLOAD OUR BEE CERTIFICATE)
