BBBEE Ownership Compliance: Employee Share Schemens – The Do’s and the Don’ts

BBBEE share schemesSince the recent amendment of the Broad Based Black Economic Empowerment Act 53 of 2003 and its regulations, i.e. the Codes of Good Practice, (jointly referred to as the “BBBEE Act”), whereby complying with the ownership requirement of the BBBEE scorecard, employee share schemes became more popular than ever.

Setting up an employee share scheme without suitably qualified professional assistance can have dire consequences for any company and its employees. Especially as this could lead to major (unforeseen) tax consequences for both the company and the employees concerned. So, the question is what benefit does the company and conversely the employees gain from this type of transaction? How are these benefits most suitably balanced to avoid unforeseen consequences?

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