Aug-2015 Briefing: B-BBEE Changes

Event date: 13 August 2015

This month’s Members Business Briefing covered 2 speakers, Boitumelo Ngutshane from KPMG and Lucy Sutcliffe from Her Majesty’s Revenue & Customs. Tumi Ngutshane gave a presentation on the revised BEE changes for compliance for domestic and foreign entities. This overview of BEE covered topics such as reviewed codes, equity equivalents, enterprise, supplier development and empowering suppliers. Tumi also made reference to the B-BBEE Management Development Programme offered by UNISA and the benefits this would offer to all South Africans.

Lucy Sutcliffe spoke on the promotion of compliance on a global scale to disrupt and dismantle organised crime. Tobacco smuggling was a major point of her talk and how this goes towards the funding of drug cartels and terrorism. Her presentation also showed the significant harm of money laundering and tax evasion and the impact of “victimless crimes” from an economic standpoint. The solutions focused on preventive and punitive tools and the Amendment of the Crime Act of 2002 along with the continuous efforts of persistent enforcement on this matter.

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