Associate Professor and research director at the University of Cape Town’s Graduate School of Business, Sean Gossel, has proposed thein South Africa, which would punish corporates complicit in state capture and other forms of corruption.
However, Gossel said authorities could penalise private sector companies for their complicity in corrupt activities by introducing a corruption tax. “It could be argued that this higher tax rate would penalise shareholders of listed companies rather than the guilty managers. However, this is not entirely true because shareholders can hold managers to account for their corrupt decisions at AGMs and the company would be subject to the market discipline associated with share price and brand erosion.
The UK government has also said it will ask Bain about the findings by the South African panel headed by acting chief justice Raymond Zondo, which has spent the past four years probing graft during former President Jacob Zuma’s scandal-marred rule.Prosecution still needed
JZ, how convenient
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Source: BusinessTechSA - 🏆 24. / 61 Read more »
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