Hi, please bear with me because a) I'm new and b) I currently reside in the UK.
I'm soon to relocate to South Africa to do some work for an old friend who owns a commercially successful company that is not strong on CSR. I've convinced him to set up a Foundation to deliver 'community building' programmes in less developed communities in SA. The Foundation will be financially sustained by the 'parent' company and issue grants to small NGOs. It will also be an important marketing tool for the parent company.
Is a S21 company the appropriate legal structure for such a Foundation?
What are the tax concessions for the 'parent' company e.g if they were to devote 2% of their annual profits to the Foundation?
Are there any other obvious tax incentives in this type of CSR project?
Many thanks and forgive me if this is all a bit basic.