CIPC Launches Study on Counterfeit Goods
The Companies and Intellectual Property Commission (CIPC), along with the Department of Trade, Industry, and Competition (DTIC) and the International Labour Organization (ILO), has launched a study on the impact of counterfeit goods in South Africa, focusing on the leather and footwear sector.
At a March 4, 2025 workshop, over 60 stakeholders, including SARS and industry leaders, discussed ways to strengthen enforcement and protect businesses from illicit trade. A Project Steering Committee was formed to drive collaboration between government, industry, and law enforcement.
Why This is Important
Risk Mitigation: Counterfeit trade impacts legitimate businesses and may affect the financial statements and tax compliance of affected clients.
Regulatory Compliance: Accountants should stay informed about legislative measures and enforcement trends that may impact business operations.
Client Advisory: Businesses in vulnerable sectors, such as retail and manufacturing, may require guidance on compliance with anti-counterfeit regulations and intellectual property protection strategies.
Accountants advising clients in the affected sectors should monitor policy developments and ensure compliance with new enforcement measures. The study is expected to shape future regulations and enforcement actions against illicit trade.
Read more about the project in the CIPC Media Statement.
