Natasha Marrian Deputy editor: Financial Mail

SARS commissioner Tom Moyane has been suspended with immediate effect.  According to the presidency, President Cyril Ramaphosa has cited among his reasons the "deterioration in public confidence in the SARS and public finances being compromised" due to the ongoing controversy at the tax agency under Moyane's leadership.  Ramaphosa said it was in the public interest to restore the credibility of SARS without delay. In a letter to Moyane, Ramaphosa said: “For the sake of the country and the economy, this situation cannot be allowed to continue, or to worsen.” Earlier Business Day reported that Moyane had refused to step down after he was asked to resign by President Cyril Ramaphosa. Ramaphosa asked Moyane to resign on Sunday night, but Moyane said he would not do so citing the upcoming revenue results announcement. According to sources canvassed by the Business Day, Moyane intended using the results announcement to show his success as commissioner despite the tough economic climate. P...

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