New BEE tax for South African businesses proposed

[ToxicBunny]

If you read it. Its not bad. However, the tax should be profit based.

It basically removes the need for BBE audits, checks and requirements with just a tax.

Companies no longer need to hire people on colour, removes barriers. and simplifies the whole process.

It is bad, in so much as it entrenches a tax for no discernable gain for businesses, because you can be damned sure they'll still have to meet all the quotas etc etc.

What should be happening is the barriers being removed entirely and letting the economy actually grow properly.

 

[Kaapie]

Is this for companies that are not Bee compliant?

Can someone explain how this tax will uplift black people who are currently struggling?

“The government will set up a transformation fund worth R20 billion a year over the next five years to fund black-owned and small business enterprises,” he said.
“It will ensure businesses owned by women, youth and persons with disabilities receive equitable opportunities in government contracts.”

This already reads like FAIL.

Should be manufacturing/production/agricultural/maritime sectors ONLY if any. You know...the entities that ACTUALLY employ many people.
Not funding school dropouts 500k to start business buying **** any government employee could source by picking up a telephone, and then sell it to government at above retail pricing.

We NEED change, but not these half assed lip service soap box shenanigans, that is throwing away the actual working peoples money. FFS. This gravy train just won't stop, only finds new routes

 

[xcaliber]

It is bad, in so much as it entrenches a tax for no discernable gain for businesses, because you can be damned sure they'll still have to meet all the quotas etc etc.

What should be happening is the barriers being removed entirely and letting the economy actually grow properly.

BEE will not go away. As much as it sucks, it wont happen. This 3% tax could work out far cheaper than what it costs with the current system.
Just the top of my head, my previous company had to.

Get in auditors, hire a BEE expert, allocate money for training, allocate money to "social projects", limit contractors that can quote due to BEE, etc.
I am just saying, this tax is easier, cheaper and will allow "white" people to be hired.

 

[Kaapie]

I am just saying, this tax is easier, cheaper and will allow "white" people to be hired.

What about the very real situation that the qualified experienced people to drive growth employment in new industry entities, are 'white' people.
Does Koos, with his 30 years engineering and toolmaking experience get the funds to launch the next kreepy crawly, thereby employing thousands down the line?

 

[ToxicBunny]

BEE will not go away. As much as it sucks, it wont happen. This 3% tax could work out far cheaper than what it costs with the current system.
Just the top of my head, my previous company had to.

Get in auditors, hire a BEE expert, allocate money for training, allocate money to "social projects", limit contractors that can quote due to BEE, etc.
I am just saying, this tax is easier, cheaper and will allow "white" people to be hired.

100%, the tax is cheaper and simpler, but you would be mistaken to think any of the other compliance requirements would magically fall away, that is not how this government operates.

 

[CrypticZA]

BEE will not go away. As much as it sucks, it wont happen. This 3% tax could work out far cheaper than what it costs with the current system.
Just the top of my head, my previous company had to.

Get in auditors, hire a BEE expert, allocate money for training, allocate money to "social projects", limit contractors that can quote due to BEE, etc.
I am just saying, this tax is easier, cheaper and will allow "white" people to be hired.

3% revenue for a company just breaking even...

Sales of R450mil is R13.5mil sudden loss.

Might as well close business because you went from operating fine to making a massive loss

 

[dualmeister]

Can someone explain how this tax will uplift black people who are currently struggling?

The car guards will get bigger tips.

 

[ToxicBunny]

The car guards will get bigger tips.

Don't think I've ever seen a blue lambo roll down its window to tip the car guard.

 

[dualmeister]

Don't think I've ever seen a blue lambo roll down its window to tip the car guard.

No need to roll down window.

 

[Scooby_Doo]

100%, the tax is cheaper and simpler, but you would be mistaken to think any of the other compliance requirements would magically fall away, that is not how this government operates.

Isn't the point of this "tax" to buy your way to level 5? So you don't have to do anything else.

 

[ToxicBunny]

Isn't the point of this "tax" to buy your way to level 5? So you don't have to do anything else.

Level 3 apparently.

So you will still have to do additional stuff to get beyond that.

 

[xcaliber]

3% revenue for a company just breaking even...

Sales of R450mil is R13.5mil sudden loss.

Might as well close business because you went from operating fine to making a massive loss

Which is why I said it should be profit based

 

[ShaunSA]

One day when we figure out how Andrea Johnson got to the top we might figure out how Kuben Pillay also got to the top

 

[Sopbeen]

One day when we figure out how Andrea Johnson got to the top we might figure out how Kuben Pillay also got to the top

You get to the Top by being a Power Bottom.

 

[ISP cash cow]

If you read it. Its not bad. However, the tax should be profit based.

It basically removes the need for BBE audits, checks and requirements with just a tax.

Companies no longer need to hire people on colour, removes barriers. and simplifies the whole process.

I agree on both your accounts on that it should be profit based and not on revenue and as long as they do away with the current BEE laws it could work.

BUT

The government handling the fund will just become another slush fund for them to use for friends companies and the like.

 

[W@P]

BEE will not go away. As much as it sucks, it wont happen. This 3% tax could work out far cheaper than what it costs with the current system.
Just the top of my head, my previous company had to.

Get in auditors, hire a BEE expert, allocate money for training, allocate money to "social projects", limit contractors that can quote due to BEE, etc.
I am just saying, this tax is easier, cheaper and will allow "white" people to be hired.

We had, at one stage, RGB and black deaf, blind, and disabled mofos on our payroll. Pick a combination of those, or all of them together, and we had them.

Fscking BS if you ask me.

What if every single non-previously disadvantaged person fscked right off out of this country?
Would they still have this kak?

 

[Mista_Mobsta]

Which is why I said it should be profit based

Instead of levying an Extra 3% based on profits/revenue, why don't they just ringfence, through SARS (similar to SDL/UIF etc), the 3% from Company Tax? IMHO, it is a racist idea purely based on the fact that BEE (NOT AA) is a racist policy at its core but if Government is adamant on further punishing instead of building, then ringfencing the 3% out of the company tax would be the easiest solution no?