R3 billion tax pain for Sasol, and Education Department’s tech flop
·7 Oct 2024
Here’s what is happening in and affecting South Africa today:
- Drug mule arrested at OR Tambo: Police arrested a 43-year-old Paraguayan man on Sunday after he arrived on a flight from São Paulo, Brazil. A medical examination revealed he had swallowed multiple foreign objects, and so far, he has expelled over 20 capsules believed to contain cocaine. This arrest is part of a larger operation at OR Tambo International Airport, where 14 drug mules have been detained in recent weeks. [eNCA]
- Education department gets failing grade: The Mpumalanga education department withheld the distribution of tablets to matric students at 72 underprivileged schools due to the low return rate of these devices from pupils in the previous year. [News24]
- Sasol’s R3 billion tax pain: Sasol has been granted leave to appeal a high court ruling that its Isle of Man-based treasury unit must pay taxes in South Africa. The case, which could cost the company up to R3 billion, centres on a dispute with the South African Revenue Service (SARS). [Business Day]
- Massive wildlife bust in Cape Town: A joint operation involving CapeNature, the Kuils River Stock Theft Unit, the Environment Department, and the US Fish and Wildlife Service led to a raid in Durbanville, Cape Town, where numerous dangerous snakes, spiders, and protected birds were discovered. The resident was fined and sentenced to six years in prison for illegally possessing 56 protected species. [Daily Maverick]
- Markets: The South African rand rose against the dollar despite a strong U.S. jobs report on Friday, following a challenging week for risk-sensitive currencies amid escalating tensions in the Middle East. On Monday (7 October), the rand was trading at R17.48 to the dollar, R22.93 to the pound, and R19.17 to the euro. Oil is trading at $77.79 a barrel. [Reuters]
Loading ...