Wiese plays it by the book with Parliament and clarifies tax-haven remark
Steinhoff shareholder Christo Wiese says he has a company in the British Virgin Islands but it is subject to tax in SA
Major Steinhoff shareholder and prominent businessman Christo Wiese is playing it strictly by the book when it comes to informing Parliament about his business affairs. In a letter to Yunus Carrim, the chairperson of Parliament’s finance committee, Wiese clarified a statement he made during last week’s hearing on Steinhoff, which was organised by three parliamentary committees. During the hearing Wiese was asked by MPs whether he had any companies in tax havens and he replied that he did not as he understood the question to be whether he had companies in tax havens that benefited from a tax-haven status. "On my return to office, my financial officer reminded me that I do have a company that is incorporated in the British Virgin Islands. However, the company is a ‘controlled foreign company’ for South African tax purposes and is therefore subject to tax in SA and does, therefore, not benefit from the company being in a so-called ‘tax haven’. "The company is fully declared to the rele...
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