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TRUCULENT TAX TERRIER

18th March 2016

By: Martin Creamer

Creamer Media Editor

  

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The South African Revenue Service (Sars) is digging up the past and imposing sky-high tax assessments on objecting mining companies. Sars first bit Kumba Iron Ore’s Sishen Iron Ore Company, on which it imposed a R5.5-billion assessment. Now the truculent tax terrier has locked its jaws on Exxaro, from which it wants R1.1-billion. Both companies have responded to Sars’ letters of intent, disputing the basis of the proposed adjustments.

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