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POPI: An Existing Risk, a Right Royal Ruckus, and the EU Deadline

April 2018, News /

When will the enforcement provisions of the Protection of Personal Information Act (“POPI” or “POPIA”) come into effect? Latest indications are that the Information Regulator will announce final Regulations and a commencement date shortly, but there have been so many delays already that we perhaps shouldn’t be holding our breath on that one. Three important […]

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Directors: The Steinhoff Debacle Highlights Your Exposure to Personal Liability

April 2018, News /

The “new” Companies Act of 2008 promised to place greater accountability and liability burdens on directors. This was in response to directors being given greater powers in the Act. Importantly, the Act does not distinguish between non-executive and executive directors.     What is required of you as a director? A director is to act in

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You and Budget 2018:  It Could Have Been Worse!

March 2018, News /

“What people really want is fairness. They want people paying their fair share of taxes” (Barack Obama) In the Medium Term Budget Speech (MTBS) last October, Finance Minister Gigaba laid out some frightening numbers – tax revenue was not rising as predicted and expenditure was inexorably increasing. The forecasted spending ceiling was breached and the

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Employees be Warned! A Conflict of Interest Can Get You Dismissed

February 2018, News /

“Honesty is the best policy” (Benjamin Franklin) Employees have a general duty to act loyally, honestly and in their employers’ best interests, and amongst other things that entails avoiding any possible conflicts of interest. A recent Labour Court decision confirms that any breach of this duty risks dismissal. A long-service municipal employee dismissed An employee

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When Crime Doesn’t Pay:  VAT Fraudsters Behind Bars for 25 Years

January 2018, News /

Honest taxpayers, particularly those struggling to get legitimate refunds out of SARS whilst its fraud prevention systems grind along slowly, will hope that potential tax cheats take fright at the stiff sentences handed down recently to three company directors.   They were convicted of submitting 198 fraudulent VAT returns over a 3 year period,  involving

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Directors:  Watch Your Liquidity and Solvency!

January 2018, News /

Nothing is more demoralising than running into financial difficulties. Suddenly all your energies are focussed on survival rather than growing the business. The fun goes out of the organisation, rumours of retrenchment flourish and if management aren’t careful, the rumours can become self-fulfilling. The importance of liquidity and solvency ratios Since the “new” Companies Act

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