by VDT Attorneys | Dec 14, 2021 | B-BBEE Act, BEE, Business
To answer this, it is important to outline the objectives of the Broad-Based Black Economic Empowerment Act 53 of 2003 (“B-BBEE Act””). The B-BBEE Act was enacted to redress historical disparities suffered by specific races in South Africa. It aims to do this by...
by VDT Attorneys | Oct 12, 2021 | BEE, Tax, Training
Over the years, many companies have made use of ETI schemes to receive tax benefits afforded by ETI. However, as you have noted correctly, SARS recently issued a ruling which may change the fate of these ETI schemes by holding that a student cannot be an employee for...
by VDT Attorneys | Oct 12, 2021 | BEE
In terms of the BEE Codes of Good Practice, Supplier Development contributions are made to qualifying entities that already form part of the measured entity’s current supplier chain. Enterprise Development contributions are made to qualifying entities that are not...
by VDT Attorneys | Sep 14, 2021 | BEE
In August 2020, the South African National Accreditation System (SANAS) issued a communication to B-BBEE verification agencies that measured entities shall not be permitted to conduct a B-BBEE audit using management accounts outside of their financial period. SANAS...
by VDT Attorneys | Aug 10, 2021 | BEE, Business
Empowerment legislation in South Africa aims to redress the inequalities of the past not only from a race perspective, but also as regards gender. This is evidenced through numerous provisions in the B-BBEE Codes that specifically relate to black women representation...
by VDT Attorneys | Jul 14, 2021 | BEE
Until recently, this has been the case as there have been many differing views about in particular the ownership element of entities that have a broad range of beneficiaries. Fortunately, the Minister of Trade, Industry and Competition (the “DTI”), on the 18th of May...
