Majority of Broad-Based Trusts declared ‘not Black Ownership’
- Apr
- 24
- Posted by Alexis - B-BBEE
- Posted in B-BBEE Blog
Link to original post: https://bit.ly/2UyT3pP
BEE CRACKDOWN
Majority of broad-based trusts declared ‘not black ownership’
The Kagiso, Royal Bafokeng Nation, Wiphold Investment and Batho Batho trusts may be affected
23 April 2019 – 05:10 Carol Paton
The commission that monitors compliance with empowerment legislation has declared that the vast majority of transactions involving broad-based BEE trusts are not compliant with the law as the trusts are not genuine and effective black ownership.
The Black Economic Empowerment Commission, which was set up in the department of trade & industry in 2017, has written to dozens of companies informing them of the need to rectify their ownership structure and undergo re-verification of their BEE status or face investigation for fronting.
Recent Posts
- Updated SAICA Guide on Retention of Records 02/11/2023
- Congratulations Stephanie on 10 years with MD! 01/11/2023
- Celebrating Cedric’s 25 years and Stephanie’s 10 years! 28/10/2023
- Celebrating our Wonderful Bosses and their 26-Year Anniversary 16/10/2023
- Accounting Senior/Supervisor position currently available 16/10/2023
- Audit Senior/Supervisor position currently available 16/10/2023
- Are You FICA Compliant? 7 Key Requirements You Need to Know 16/10/2023
- SARS EMP501 Interim Submission – August 2023 period 15/10/2023
- Cedric Coetzer – 25th Work Anniversary! 12/10/2023
- Ignite your future in Accounting | Calling all grade 10,11 & 12 learners! 11/10/2023
- PAIA – Deadline for website compliance by 26 October 2023 10/10/2023
- Relaxed Friday afternoon games 06/10/2023
- SARS New Customs Imports and Exports registration platform – RLA – are you correctly registered? 05/10/2023
- Congratulations Kelly, you are now a SARS Tax Practitioner! 05/10/2023
- Congratulations Fatima on passing your APT exams! 04/10/2023
- SARS EMP501 Interim Submission – August 2023 period 20/09/2023
- Cupcakes for Hope fundraising, 4 Kids with Cancer, 30 September 2023 14/09/2023
- CIPC clamping down on reckless conduct and non-compliance 12/09/2023
- SARIPA Membership 2023/24 certificate for Dave Rich 05/09/2023
- MD’s News | June 2023 – August 2023 05/09/2023
- Congratulations Sam on your 5-year anniversary at MD! 03/09/2023
- Congratulations to Cecelia on your promotion! 02/09/2023
- We welcome Saadiqah and Amelia to MD! 01/09/2023
- We say farewell to Chantal today 31/08/2023
- CIPC – Business Rescue – Practitioner Licensing for Dave Rich 24/08/2023
- #TeamMD beautiful morning walk 18/08/2023
- Happy Women’s Day 2023 09/08/2023
- Exciting news ahead of Women’s Day – Adjudicated Top Gender Empowered Company in the Accounting and Consulting Sector 08/08/2023
- We welcome Tatenda to MD! 08/08/2023
- New Requirements for PBO Donations 08/08/2023
- CIPC Beneficial Ownership and what is required 07/08/2023
- FICA and MD 28/07/2023