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30 July 2010
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Analysts warn SARS not to erode taxpayers’ rights
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Sanchia Temkim
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The South African Revenue Service (SARS) must exercise caution and “act reasonably” before taking outstanding tax and penalties out of offending taxpayers’ bank accounts and attaching their salaries, warn tax analysts.“The tax courts will take extreme displeasure with SARS if they should abuse their powers,” says Andrew Wellsted, a director at Deneys Reitz Tax Services.
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Business Day
Thursday, July 08, 2010
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| Comings & Goings ...
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Ayanda Khumalo
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Northam Platinum has appointed Khumalo as financial director as from July 1. A CA by profession with extensive mining and corporate finance experience. He takes over from Derek Wolstenholme.
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Nomkhita Nqweni.
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Absa Group has appointed Nqweni as managing executive of Absa Wealth with effect from June 1. Nqweni joins Absa Wealth from Alexander Forbes, where she was employed for almost 13 years.
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Mandisi Mpahlwa
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The president’s economic adviser and former trade & industry minister under Thabo Mbeki is ambassador-designate to the Russian Federation. He is expected to replace Bheki Langa in September.
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Together for the long haul
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Charlotte Mathews
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Mining minister Susan Shabangu expresses the desire to improve SA’s allure to foreign investors, but her out-of-the-blue statement at a press conference last week — that mining companies will get no credits for empowerment if their black partners sell — provoked a recoil. Another cause for alarm could be a clause in the “Declaration on Strategy for the Sustainable Growth & Meaningful Transformation of SA’s Mining Industry”, signed last week by industry, government and labour.
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Financial Mail
Friday, July 09, 2010
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New wavelength
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Larry Claasen
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Stephen Mncube, the new chairman of the Independent Communications Authority of SA (Icasa), will certainly have his hands full leading the telecom and broadcasting regulator. It has come in for a great deal of flak from government and the parliamentary broadcasting committee for not getting the big telecom operators to bring down prices. Former academic Mncube, who is 70, will also have to tackle Icasa’s unwieldy structure.
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Financial Mail
Friday, July 09, 2010
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Makarapa inventor Alfred Baloyi
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Jacqui Pile
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From humble miner’s hat to collector’s item, Alfred Baloyi’s makarapas have become an international hit. Named after the colloquial word for an immigrant mine worker, lekarapa, the custom-made, colourful creations originally made from miner’s helmets for soccer fans have become an icon of the 2010 soccer World Cup. Baloyi first came up with the idea of wearing hard hats to soccer matches in 1979 after seeing missiles being flung from upper seats at fans in the cheap seats.
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Financial Mail
Friday, July 09, 2010
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Winners & losers ...
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Loser: Fikile Mbalula
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This week's break-in at the deputy police minister's official residence in Pretoria somewhat sours the good work he has been doing preventing crime during the World Cup.
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Loser: Dipuo Peters
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If SA decides to go big on nuclear energy, the energy minister will feel keenly the loss of 800 experts from the PBMR project, canned by public enterprises minister Barbara Hogan.
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Winner: Phakamani Hadebe
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The arrest of four Land Bank officials is good news. Hadebe has vowed to “seek out, expose and ensure that those who rob the poor ... pay the price”.
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(c) BDFM Publishers
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Black Economic Empowerment (“BEE”) was meant to have found itself on more certain ground with the gazetting of the Codes of Good Practice in 2007. After all the years of anticipating an end to the moving targets and constantly shifting playing fields, the South African business community had cause to celebrate the birth of a decade of BEE certainty as the Codes superseded the plethora of sector charters and corporate self regulation.
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