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How will the technological revolution affect us as it unfolds at an ever-increasing pace? We need to plan for the future by asking ourselves critical questions like: “Will new technologies like Artificial Intelligence result in higher job losses for South Africa?”
To answer that question we’ll consider the lessons to be learned from the introduction of ATMs 50 years ago, and we analyse the results of low global productivity, globalisation, excess global labour, and the lag effect between new technology and gains in productivity.
There are of course threats in these scenarios, but also opportunities – we end by identifying a particular global opportunity that we should be taking advantage of.
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As the tidal wave of hacking and ransomware attacks continues to grow, we discuss the dangers facing all of us who have under our control the “personal information” of our customers and others.
A recent case in the UK illustrates one of the risks. A business with a coding error on its login page was penalised GBP 60,000 (over R1m) for failing to adequately protect its data base of customers.
What did the UK business do wrong? What is “personal information”? Are local businesses at risk even before POPI commences? Read on for the answers....
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Speak to your accountant now if you are in any doubt about whether or not you should take advantage of the SVDP (Special Voluntary Disclosure Programme).
Firstly, the deadline is 31 August, and an application will take time to prepare.
Secondly, “automatic exchange of tax information” will, from next month, see tax authorities from over 50 countries (set to grow to over 100 by September 2018) automatically reporting to their counterpart tax offices - including SARS - on, amongst other things, bank accounts and investments held by their nationals. Both tax and Exchange Control contraventions will be under the spotlight.
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