Page 4 - KZN Business Sense Vol.3 No.1

KZN

KwaZulu-Natal
Business Chambers Council

TRUSTED ADVISOR

U gen Moodley, KPMG's experience was later followed by a doctor, a system architect, major professional and personal space is wonderful.”
month in Saudi Arabia where he
recently appointed
capital project specialists and
satisfaction. He said, “We have a
Moodley is happily married and
managing director in KZN
in that region. Other highlights of
sector and our participation also
is a dynamic, experienced chartered set up a new internal audit function lawyers amongst other specialists. strong understanding of the public has a close knit family, so much so
We differentiate ourselves from our
accountant who has progressed his career include participating in competitors who are not able to ensures that there is proper that he struggles to spend time
through the leadership ranks of partner development programmes have these skills readily available governance.” away. He is delighted that he is able
KPMG having been appointed as in Spain and Cuba. Moodley said, in KZN.” to give his two sons the
a partner in 2005. He is also the “These were fantastic experiences, Moodley believes that South opportunities his family could not
Head of Advisory - KwaZulu-Natal which have enabled me to grow The KPMG team also works on Africa requires more innovative afford when he was growing up.
and his areas of specialism include into the person that I am today.” big projects in listed companies, responses in order to creatively He is passionate about football,
governance, risk management, state owned companies, address the problems and playing twice a week, and is an avid
internal audit and overseeing the An awareness of the challenges government departments and challenges that face the country. golfer.
provision of audit, tax and advisory of his professional journey is municipalities, including Nedbank, He said, “We can't keep doing the
services in complex public and reflected in his approach to his Tongaat Hulett, Rio Tinto, same thing, we need to do things Ugen Moodley
private sector environments. current team, who he describes as Transnet, KZN Provincial differently. You must be the change Managing Director -
KwaZulu-Natal KPMG Services (Pty) Ltd
Moodley commented that he is young and dynamic. Moodley has Treasury, eThekwini Metro and that you want see in the world.” He T: 031 327 6000
excited about this appointment and an inclusive leadership style and the University of KwaZulu-Natal. added that KPMG South Africa C: 083 452 3145
looks forward to leading KPMG's enjoys adding value to clients and The fact that these projects have an plays an important role in driving ugen.moodley@kpmg.co.za
continued growth in KwaZulu- 'bringing people to the table'. He impact on the economy as well as the innovation space. He said, “One www.kpmg.co.za
Natal. added that he is nurturing of his on the lives of many people through can see the true might of the firm;
team and encourages them to focus job creation gives Moodley both that KPMG SA can play in this
He added, “My career has been on the areas that they are good at
driven by the opportunities that so as to provide opportunities to
my long association with KPMG succeed.
has provided. The journey has not
always been an easy one; at times He endeavours to surround
it has been tough. I started off in himself with the best people who
1997 as a young and inexperienced are able to deliver high quality
clerk, from a disadvantaged deliverables. In addition to his
background, and I had to fight to strong technical and leadership
prove myself.” He added that the skills, he says, “my major strengths
early years of his studies and career are that I am very approachable
were challenging as he had the and get on well with people.” These
misfortune to lose his father, his are invaluable personality traits in
older brother and sister-in-law at his profession, as he is able to build
this time. relationships with staff and clients,
which together with his expert
However, Moodley said that his knowledge, has earned him the title
wife, Kogie, and his mother have of 'Trusted Advisor'.
played very supportive roles while
he was learning to find his feet in Moodley said, “KPMG in KZN
the business world. In addition, the is a thriving practice and we have
ability to persevere and strive for invested in multi-disciplinary
success saw Moodley through these teams who can pool their skills to
early challenges. the benefit of our clients. We
employ people who have
The journey with KPMG also experience and expertise in both
included a large numberof firsts. the public and private sectors and
These experiences include his first in diverse industries such as
local flight, his first international healthcare, education,
flight and his first international manufacturing, IT, mining,
experience, which was a three petroleum, agriculture, tourism and
month project in the United gaming to name a few. The team L - R: Farouk Ebrahim, Paul Fay, Shamit Govind, Farzanah Mall, Ugen Moodley, Neo Shabalala, Yasmeen Suliman,
Kingdom. This international also comprises engineers, a medical Candice Padayachee, Jay Datadin

MANAGING DISRUPTION IN YOUR TAX AFFAIRS

Yasmeen Suliman African Revenue Service (SARS) in willingness, both internationally amendments made last year to issues.
Director - terms of technology advancement and in South Africa, to use 'tax hybrid equity instruments, the • Have a thorough understanding
Corporate Tax
KPMG Services and tax co-operation as well as evasion' and 'tax avoidance' as taxation of dividends arising from of your organisation's tax affairs
(Pty) Ltd automatic exchange of information interchangeable terms and the term share schemes and interest-free - check for gaps that expose the
agreements our government has 'tax dodging' to cover them both. loans made to trusts. organisation to risk and penalties,
entered into over the last two years, While it is recognised that simply conduct regular reviews to
he T to confirm this fact. doing what is legal is not the only some uncertainty whether South ensure compliance and
And while there seems to be
benchmark, there is a difference
implement internal control
Unfortunately, what this means
on the one hand and legal activity
identified.
of Finance for much longer, there
Panama for taxpayers is that tax compliance between illegal evasion and fraud Africa will have the same Minister systems that mitigate the risks
Papers, is becoming more challenging. Our that happens in the legitimate are bound to be more changes • Plan for change - for example, if
Brexit, tax laws have become so complex economy on the other. announced in the Budget Speech your organisation is entering into
the global that it has become difficult for in February that will bring further a new transaction or there are
economic taxpayers to say with confidence Conflating these two concepts disruption. amendments in tax legislation
meltdown, BEPS (Base Erosion that they are compliant in all destroys trust and hampers that affect your organisation,
Profit Shifting), digital innovation respects - no matter how careful taxpayers' ability to plan their tax Taxpayers and corporates have assess the impact by taking
and advances in technology are all one is, there is always room for affairs properly. After all, it is a to start thinking differently in order proper advice and make the
seen as new age disruptors. error. long-established principle that a to navigate through these factors. necessary changes to minimise
With advances in technology, person may structure his affairs to Some of the following suggestions the impact.
In some quarters there is a belief access to more information and pay the least amount of tax. could help:
that South Africa is somewhat armed with additional powers However, the National Treasury • The starting point is arming T: 082 778 1031
shielded from this disruption, being afforded by the Tax Administration and SARS appear to be worried to yourself with knowledge - get to yasmeen.suliman@kpmg.co.za
on southernmost tip of the 'Dark Act, SARS is now able to more the point of paranoia that taxpayers know the legislation and the
Continent', but this is a fallacy. We accurately identify taxpayers to be are finding 'loopholes' in the tax amendments that could affect
are no more immune than the rest audited, successfully raise legislation - many of the complex your organisation. Get to know
of the world, and one needs to look assessments and impose penalties amendments to the tax legislation it yourself or hire-in someone
no further than the reams of tax for non-compliance. over the last few years are directed who can assist, and ensure that
legislation passed in the last year, towards closing these loopholes. your staff are adequately trained
the developments at the South Frustratingly, there is still a Examples of these are the to identify and deal with tax

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