PRETORIA – Consultancy firm Bain and Company which carried out the disastrous restructuring at the South African Revenue Service (Sars)has relieved its managing partner of his duties and committed to paying back its fees plus interest.
Vittorio Massone testified at the Nugent Commission of Inquiry in Pretoria two weeks ago where he conceded that there were significant shortfalls in the process to draft a new structure for the revenue service.
The commission heard how the new operating model introduced significant inefficiencies in revenue collection and dissolved key units.
Bain says in a statement that its global board approved setting aside all of the R164 million in fees, including interest, it charged to Sars.
The company says it will await direction from the Nugent Commission of Inquiry on what to do with the money or seek guidance from civil society and government on how to ensure it is used for the benefit of South Africa.
Massone has been replaced in order to allow him time to focus on co-operating with the commission of inquiry.
Bain has also appointed an oversight committee to investigate and address any new facts which emerge from the commission.
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