Sars will harm SA tax residents if it succeeds in Coronation case, top court hears
Coronation believes its Irish subsidiary in Dublin falls into what tax law calls a ‘foreign business entity’
13 February 2024 - 17:06
The SA Revenue Service’s (Sars’) view of tax regulations regarding foreign subsidiaries’ exemption from income tax will “materially impede SA tax residents” from competing on a level playing field in foreign markets.
This was the argument made by asset management firm Coronation in the Constitutional Court on Tuesday. It appealed to the apex court after the Supreme Court of Appeal (SCA) ruled against Coronation, resulting in it having to pay almost R800m in tax. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.