Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

South Africa Joins the UK in Banning Bain, Citing Fraud (2)

Sept. 29, 2022, 12:58 PM

South Africa has banned Bain & Co. from bidding for public-sector contracts for a decade, following the lead of the UK, after the consulting firm was accused of helping government officials degrade the African country’s revenue service’s ability to probe tax evasion.

South Africa’s National Treasury said in a response to queries that the ban will last for a decade and relates to the company “engaging in corrupt and fraudulent practices related to a South African Revenue Service contract.” The UK in August banned Bain from public contracts for three years because of allegations related to the tax agency in ...