Have a look at the Inward PDF document in the first comment.
A list of codes are available there. You can search the document for your particular activity and use those codes.
Hi Dawn,
Just picked this up while searching for the same issue (what BOP code to use) as I do the same transcription work for the same company. Did you come right with that code?
Dear Kurt
In order to help add to my limited income, I’ve been doing audio transcription typing work for a company in the USA called Rev Transcriptions and they pay me through PayPal via my FNB bank account in Cape Town.
When I wanted to withdraw my money online I had to choose a BOP Code, but the list doesn’t seem to have one for Typing Services rendered.
Please can you help me in this regard. I don’t want to do anything incorrectly.
Many thanks for your advice.
Sincerely
Dawn
7 Nov 2018
Hi Dawn,
Sorry for my late response.
It looks like you should use the code below, but it’s better to consult a qualified tax person as I am not one.
Electronic data services 266 Proceeds for services – data, news and news agency fees
You can look at the list of BOP codes available on the PDFs below.
One is for inward Forex transactions and the other is for onward Forex transactions.
I think if you are withdrawing funds you need to use the inward Forex Transaction BOP code.
Hi Kurt,
Do you by any chance know which code to use for money earned by teaching English online?
Cheers,
Michael
Hi
Could you help with what code to use if you withdrawn funds from forex trading account via Paypal (now need to withdraw to FNB)
Thanks
Hi Saul,
Have a look at the Inward PDF document in the first comment.
A list of codes are available there. You can search the document for your particular activity and use those codes.
Thanks so much Kurt.
You’ve been a big help … I’m still waiting a reply from The Reserve Bank!
Regards
Dawn
Hi Dawn,
Just picked this up while searching for the same issue (what BOP code to use) as I do the same transcription work for the same company. Did you come right with that code?
Hi Lisa. Please let me know if you come right. I’m in the same boat as you.
Dear Kurt
In order to help add to my limited income, I’ve been doing audio transcription typing work for a company in the USA called Rev Transcriptions and they pay me through PayPal via my FNB bank account in Cape Town.
When I wanted to withdraw my money online I had to choose a BOP Code, but the list doesn’t seem to have one for Typing Services rendered.
Please can you help me in this regard. I don’t want to do anything incorrectly.
Many thanks for your advice.
Sincerely
Dawn
7 Nov 2018
Hi Dawn,
Sorry for my late response.
It looks like you should use the code below, but it’s better to consult a qualified tax person as I am not one.
Electronic data services 266 Proceeds for services – data, news and news agency fees
You can look at the list of BOP codes available on the PDFs below.
One is for inward Forex transactions and the other is for onward Forex transactions.
I think if you are withdrawing funds you need to use the inward Forex Transaction BOP code.
Inward
https://www.fnb.co.za/downloads/forex/BoP_Codes_for_Inward_Transactions_December_2015.pdf
Outward
https://www.fnb.co.za/downloads/forex/BoP_Codes_for_Outward_Transactions_December_2015.pdf
Updated: 3rd April 2020
New list of Bop Codes
https://kurtwyngaard.co.za/wp-content/uploads/2020/04/Balance_of_Payment_Category_List.pdf