POLITICAL WEEK AHEAD: Makwakwa, Capitec and VBS on Parliament’s menu
Capitec executives will testify in Parliament on the damning report by short seller Viceroy, writes Bekezela Phakathi
Former South African Revenue Service (SARS) second-in-command Jonas Makwakwa may have resigned, but Parliament’s standing committee on finance is not done and will on Tuesday receive a report back on how the tax authority had cleared him of any wrongdoing in relation to suspicious transactions detected by the Financial Intelligence Centre. In what marks a big week for the committee, Capitec executives will give their side of the story in response to a damning report by short seller Viceroy into the bank’s affairs. The committee will also delve into the circumstances that led to VBS Mutual Bank being placed under curatorship. All three matters — the Makwakwa saga, Capitec and VBS — will be dealt with on Tuesday. Committee chairman Yunus Carrim said: "A key concern has been the unacceptable way in which SARS has managed this." In addition, the committee would continue engagements with SARS to consider whether there was a need to amend legislation or regulations to reduce the prospects...
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.