Sars order will hit global expansion of most JSE giants, court hears
Asset manager Coronation also warns that R400bn in assets will be affected by an SCA judgment against it
Coronation believes all but two of the JSE’s 50 biggest companies stand to have their global competitiveness eroded should the Constitutional Court rule against it in a dispute with the SA Revenue Service (Sars).
The dispute centres on a Supreme Court of Appeal (SCA) ruling that, as an Irish company in the Coronation group, which has about R630bn in total assets under management, was not conducting its primary business operations in Ireland, it is liable for SA taxes...
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