Unofficial translaction TITLE II: STATUS OF ENTREPRENEUR CHAPTER I: DEFINITION OF ENTERPRENEUR ARTICLE30–The entrepreneuris an individual , a natural person who, upon making a simple declaration as provided for in this uniform Act,engages in a professional, civil, commercial, artisanal or agricultural activity. An entrepreneur shall retain his status if the annual turnover generated by hisactivity for two consecutive years does not exceed the thresholds set out by the uniform Act with respect to the organization and harmonization of corporateaccounting in terms of minimumcash flow. With regards to merchants and craftsmen, such annual turnover shall be generated, on the one hand, by their sales of goods, objects, foods and supplies and, on the other hand, by provision of services, and, for farmers, their production activities. When,fortwo consecutive years,theturnoverofentrepreneursexceeds limits set for their activities by the State party in the territory in which they carry out their activities, they are required to comply with all charges and obligations applicable to individual enterprisesfromthefirstdayofthe following yearandbefore the end of the firstquarterof that year. As from that date,they shall lose their status of entrepreneur, they shall not benefit from the special legislation governing the entrepreneur. They shall, therefore, comply with the rules applicable to their activities. Entrepreneurs, who are exempted from registering in the Register of Commerce and Securities, are required to declaretheir activities as provided for in this uniform Act. Each State party shall establish incentives for entrepreneurs’ activities particularly with regard to taxation and payment of social charges. CHAPTER II: ACCOUNTING REQUIREMENTS FOR ENTREPRENEURS ARTICLE 31– Entrepreneurs are required to maintain on a daily basis a journalin which they record in chronological orderthe source and amount of theirincome, separating payments in cash and other methods of payment,on the onehand, and the destination and amount of payments on the other hand. Such book shall be kept for not less than five years. ARTICLE 32-In addition, the entrepreneur who sells goods, objects, supplies and foods or housing furniture must maintain a register, summarized by year, presenting the particulars of purchases and specifying their payment methodsandreferencesofsupporting documents,whichmustbekept. OHADA / Uniform Act / Unofficial Translations P. - 12 - of 78