SCA orders Capitec to pay Sars R71.5m over failed VAT claim
At issue was whether loan repayment cover payouts to Capitec formed part of its fee income or its interest income
22 June 2022 - 19:09
The Supreme Court of Appeal (SCA) has ordered Capitec to pay the SA Revenue Service (Sars) R71.5m as well as the cost of two legal counsel over a disputed VAT claim.
The claim relates to loan insurance payments that the bank received to protect it against default by dead or retrenched clients and how those payments influenced its VAT returns...
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