International consulting firm, Bain and Company, has decided to set aside the fees paid by the South African Revenue Service (Sars) for its work on enhancing the operations at the revenue service by designing a new operational model.
The firm was appointed by suspended Sars Commissioner, Tom Moyane, and received payment of R164million plus VAT. However, last week, at the Commission of Inquiry into Sars, chaired by retired judge Robert Nugent, Finance Minister Nhlanhla Nene testified that he was disappointed with the work done by Baine.
In a statement, Bain and Company say they plan to set aside all fees paid, and says the money will either be used as directed by the Sars commission or for the benefit of South Africa with guidance from business, Government and civil society.
“Baine has regretted that their work on the organisational structure at Sars did not achieve sustainable results, and they are deeply troubled by the pain suffered by Sars employees and their families,” read the statement.
The statement adds that the company will continue to cooperate with the Inquiry voluntarily.
Nene said in his testimony that it was very strange that a company who had achieved success in turning around the Development Bank of Southern Africa would not have the same outcome when dealing with Sars.
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