RVN Blog

RVN Blog

This is the RVN blog where you can read all about or company and the most recent posts.

KING IV and Remuneration Disclosure

KING IV and Remuneration Disclosure
​http://www.accountancysa.org.za/wordpress/analysis-king-iv-and-remuneration-disclosure/
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B-BBEE Commission Should Take Action Against Non-Compliant Companies

B-BBEE Commission Should Take Action Against Non-Compliant Companies
​ http://www.thedti.gov.za/editmedia.jsp?id=4015
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Beware of Taxing Remittances

Beware of Taxing Remittances
​  Is taxation on remittances good or bad?  http://www.fin24.com/Money/Tax/beware-of-taxing-remittances-20170424
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RVN EMPOWERMENT SERVICES NOW SANAS ACCREDITED

12 April 2017 – B-BBEE verification and regulation experts, RVN Empowerment Services (Pty) Ltd, is now SANAS accredited. SANAS is the South African Accreditation System and is the only national body responsible for carrying out accreditations in respect of conformity assessment, as mandated through the Accreditation for Conformity Assessment, ...
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BEE Commissioner's Practice Guide No.1 of 2017

           The BEE Commissioner has issued a Practice Guide (see attachment). The key paragraph (number 14) states the prevention of  EMEs or QSEs who achieve their 51% of 100% black owned status via modified flow-through from benefiting from enhanced recognition to a BEE Leve...
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AUDITOR FOCUS ON 'OTHER INFORMATION'

AUDITOR FOCUS ON 'OTHER INFORMATION'
What is the auditor's revised responsibilities under international standards to read and report on other information included in an entity's annual report, focusing on the continued importance of the auditor's responsibilities in this area and the main changes.Ashika Mohan gives an overview: The International Standard on Auditing (ISA) 72...
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New Website for RVN Empowerment Services

RVN Empowerment Services has a brand new website that can be viewed on www.rvnbee.co.za The website contains RVN Empowerment's mission, services and approach to BEE.
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Non-Executive Directors of Companies must register for VAT

Non-Executive Directors of Companies must register for VAT
http://www.sars.gov.za/Media/MediaReleases/Pages/14-February-2017---Non-Executive-Directors-of-Companies-must-register-for-VAT.aspx #SARS #VAT
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RVN Empowerment Mission Statement

RVN Empowerment Mission Statement
MISSION STATEMENT Our mission is for RVN Empowerment Services to be based on the core values of honesty, integrity, impartiality and excellence - shared by each and every employee. In doing this, we strive to deliver to our clients a committed service in B-BBEE Verification ensuring equality, growth and knowledge in ourselves, our clients and the w...
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SANAS ACCREDITATION FOR RVN EMPOWERMENT

SANAS ACCREDITATION FOR RVN EMPOWERMENT
SANAS ACCREDITATION FOR RVN EMPOWERMENT"Excellence is an art won by training and habituation. We do not act rightly because we have virtue or excellence, but we rather have those because we have acted rightly. We are what we repeatedly do. Excellence, then, is not an act but a habit." – AristotleThe South African National Accreditation System (SANA...
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Statement of Clarification - Effective date of the amended ICT sector codes of good practice

Following the gazette of the Amended ICT Sector Code on 7 November 2016, the Department of Trade and Industry (the dti) and the B-BBEE ICT Sector Council received several submissions from Measured Entities, Verification Professionals, and B-BBEE Consultants about the effective date of the Amended B-BBEE ICT Sector Code (Amended Sector Code). ...
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No Consistency, No Success

RVN Empowerment believes in consistency in everything we do. See below an article by Grant Cardone on how consistency relates directly to success:https://www.linkedin.com/pulse/consistency-success-grant-cardone-       
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B-BBEE Verification

The BEE Verification process evolved since the release of the B-BBEE Strategy in 2003 and the promulgation of the Broad-based BEE Act, which set the scene for the regulation of the BEE measurement/verification industry. The gazetting of the B-BBEE Codes firmly moved the industry from a self-regulated one to a BEE verification industry.the dti appoi...
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Update: Employment Tax Incentive (ETI)

The Taxation Laws Amendment Bill, 2016 (TLAB) was published on 2 December 2016. The TLAB, which includes the changes by the Standing Committee on Finance (SCOF), differs from the draft TLAB, in particular in respect of the clauses affecting changes to the ETI. The proposed amendments affecting the ETI follows hereunder:1.Extension: The ETI will c...
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DRAFT CONSTRUCTION SECTOR CODE DETAILS

DRAFT CONSTRUCTION SECTOR CODE DETAILS
CONSTRUCTION SECTOR CODE"It presents the industry with the ideal opportunity for the advancement of transformation and BEE in the procurement of construction programmes and services. The Code also seeks to regulate a target of 30% black ownership in the industry over the next 10 years" – The Department of Trade and IndustryThe Draft Amended Constru...
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New Draft Construction Sector Codes

New Draft Construction Sector Codes
Herewith a link to our LinkedIn page with an article on the Draft Construction Sector Codes as well as videos to watch: https://www.linkedin.com/company/128865 https://www.youtube.com/watch?v=LKeb0jMQvWo https://www.youtube.com/watch?v=ONnaL_XSJRE
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Update from the BEE Commission

Update from the BEE Commission
The BEE Commission released three practice notes on the following: The first serves as an interpretative guide for the recognition of Procurement Spend in terms of Statement 400 (Enterprise and Supplier Development) The second serves as a guide with regards to the issue of B-BBEE Certificates EMEs and QSEsThe Explanatory Note deals with the procedu...
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My business needs B-BBEE – where do I start?

My business needs B-BBEE – where do I start?
Prior to our country operating as a democratic nation, black individuals were not allowed to fairly partake in the economic infrastructure. On account of this injustice, the South African Government instilled an initiative referred to as Black Economic Empowerment in 2007, which is known today as Broad-based Black Economic Empowerment (B-BBEE).Busi...
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RVN Empowerment Services & SANAS Accreditation

RVN Empowerment Services & SANAS Accreditation
As of 30 September 2016, the IRBA will no longer be the regulatory body for accreditation of B-BBEE rating agencies, as per communication dated 4 March 2016: Any entity that seeks to apply for B-BBEE Accreditation to issue B-BBEE Verification Certificates post 30 September 2016 or wishes to participate in the B-BBEE Verification Industry must thus ...
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Empowering the Youth: The Employment Tax Incentive

Empowering the Youth: The Employment Tax Incentive

Introduction

Commonly referred to as the “youth wage subsidy”, the Employment Tax Incentive (ETI) Act came into effect as of the 1st of January 2014 in an attempt to incentivise the employment of young South Africans between the ages of 18 and 29. The youth unemployment crisis is compounded by the fact that young people often lack the necessary skills and experience required by the corporate world. This incentive hopes to facilitate an increased chance of young South Africans being able to access the workforce, and thus – the formal economy.

How does it work?

• You need to qualify as an employer to access the ETI benefits.

• These benefits only apply to youth who qualify.

• These benefits hope to reduce the cost of employing young people.

• You will be able to claim the incentive for a 24 month period for all employees who qualify.

• It will reduce your cost of hiring young people through a cost-sharing mechanism with government, by allowing you to reduce the amount of Pay-As-You-Earn (PAYE) you pay while leaving the wage received by the employee unaffected.

• There is no limit to the number of qualifying employees that an employer can hire, and thus receive the incentive for.

• The incentive is currently scheduled to end on 31 December 2016.

 

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