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What is The Tax Faculty's response to Mr. Keith Engel's concern that the board of directors has personally financially benefited from The Tax Faculty?
- 20 March 2024
- Faculty News
- The Tax Faculty
Mr. Engel keeps the accusation vague by design. Aside from failing to provide details or describe the extent to which the Tax Faculty’s board has inappropriately benefited from their positions, Mr. Engel also failed to provide a shred of evidence to support his malicious claims.
Fact: Total Annual Honorarium Paid to Non-Executive Directors:
| 2020 | 2021 | 2022 | 2023 | |
| C D Hirst (Chairperson) | R 59 380 | R 135 500 | R 68 000 | R 98 800 |
| R P Smith | R 39 000 | R 54 425 | R 53 000 | R 69 300 |
| N B Wright | R 40 000 | R 40 000 | R 40 000 | R 42 000 |
| L L Legadima | R 40 247 | R 40 000 | R 40 000 | R 42 000 |
| S Mili | R 40 000 | R - | R - | R - |
| A Oguttu | R 40 000 | R 40 000 | R 40 000 | R 42 000 |
This is another example that exposes the deceptive nature of Mr. Engel.
Note: The Tax Faculty Annual Financial Statements are independently audited. In addition, the SARS Tax Exempt Unit annually reviews the financial statements for compliance with Section 30B of the Income Tax Act. Since incorporation in 2019 as a nonprofit company and subsequent registration as a Public Benefit Organisation in 2020, The Tax Faculty has consistently received unqualified audits. In addition, the CIPC has never issued The Tax Faculty a compliance notice for non-compliance with the Companies Act, 2008 (as amended).