Sars scores big as it wins R1bn tax evasion judgment

South Africa News News

Sars scores big as it wins R1bn tax evasion judgment
South Africa Latest News,South Africa Headlines
  • 📰 SowetanLIVE
  • ⏱ Reading Time:
  • 29 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 63%

According to Sars, Africa Cash and Carry under declared its sales for the 2003 to 2009 tax years.

Sars has welcomed a judgment of the Supreme Court of Appeal ending the protracted R1bn dispute between the taxman and Africa Cash and Carry.Sars on Thursday welcomed a judgment of the Supreme Court of Appeal ending a protracted R1bn dispute between the taxman and Africa Cash and Carry.

According to Sars, Africa Cash and Carry under declared its sales for the 2003 to 2009 tax years. It did this by manually manipulating its financial records, resulting in its income tax and VAT liability being understated. The wholesaler objected to Sars' subsequent tax assessments of its under-disclosed income tax and VAT liability amounting to R1bn, and when the objection was disallowed, it appealed to the Tax Court.

That court, however, approved of how Sars estimated the under-disclosed sales figures, and dismissed the company's appeal.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

SowetanLIVE /  🏆 13. in ZA

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Sars scores big as it wins R1bn tax evasion judgmentSars on Thursday welcomed a judgment of the Supreme Court of Appeal (SCA) ending a protracted R1bn dispute between the taxman and Africa Cash and Carry.
Read more »

Mkhwebane, EFF and Gordhan take fight over Sars 'rogue unit' to Concourt | IOL NewsMkhwebane, EFF and Gordhan take fight over Sars 'rogue unit' to Concourt | IOL NewsPublic Protector Busi Mkhwebane and the EFF will square off with Public Enterprises Minister Pravin Gordhan at the ConCourt over the 'Sars rogue unit'.
Read more »

KHAYA SITHOLE: Sars boss faced with taxing issue of secrecySars’s ability to balance the extraction and protection of data is an important pillar of its efficiency and public trust 🔒 khayasithole
Read more »

Ex-Sars senior official Van Loggerenberg obtains ‘evidence’ of unlawful raidsEx-Sars senior official Van Loggerenberg obtains ‘evidence’ of unlawful raidsJohann van Loggerenberg said he obtained the information from former cigarette trader and businessman Faizal Mattia, whom he recently met.
Read more »

Sars scores big as it wins R1bn tax evasion judgmentSars on Thursday welcomed a judgment of the Supreme Court of Appeal (SCA) ending a protracted R1bn dispute between the taxman and Africa Cash and Carry.
Read more »

Businessman faces huge bill after 23rd failed bid to keep mansionThree court judgments involving a litigious Cape Town businessman have brought the score to 23-0 in favour of the liquidators of one of his companies.
Read more »



Render Time: 2025-02-18 20:23:51