We've got news for you.

Register on BusinessLIVE at no cost to receive newsletters, read exclusive articles & more.
Register now

Bain & Company has paid the SA Revenue Services (Sars) back for its botched restructuring of the tax agency with interest amounting to R217m, according to the final report of the SARS Commission of Inquiry, chaired by retired judge Robert Nugent. Nugent, however, took a dim view of the move, highlighting how Bain had not been forthcoming with the commission, saying that full disclosure would help the South African public more than just repayment, which could be seen as "marketing". Bain's former partner, Vittorio Massone, has also resigned over the damning evidence of the consultancy's complicity in axed commissioner Tom Moyane's "seizure" of Sars was unearthed during the Nugent inquiry. Massone was not spared in the report — the commission found that he had lied under oath to the commission on a few occasions. He has been exposed as a shrewd operator who cynically used political connections to grow Bain's business.

This is not the end for the Boston-based consultancy with Nug...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now