This section serves as a reminder for VOPEs to ensure that they meet the tax requirements applicable in their context.
VOPEs may need to register as a non-profit corporation/organization with the relevant revenue services or state authorities. A non-profit organization does not usually pay income taxes on profits, though there may be certain exceptions. Non-profit organizations usually also have the ability to raise public or private funds and receive donations from companies or individuals. To do this, however, your VOPE may need to be incorporated appropriately and registered for tax exempt status at the relevant government level. It is advisable to consult a registered financial professional such as an accountant or auditor to provide advice about how best to structure your organization’s taxes.