{"id":778204,"date":"2024-06-21T12:45:26","date_gmt":"2024-06-21T10:45:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=778204"},"modified":"2024-06-21T12:45:30","modified_gmt":"2024-06-21T10:45:30","slug":"coronation-deals-tax-blow-to-sars","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/778204\/coronation-deals-tax-blow-to-sars\/","title":{"rendered":"Coronation deals tax blow to SARS"},"content":{"rendered":"\n

Asset management firm Coronation has won a case at the Constitutional Court over a R794 million tax matter. <\/p>\n\n\n\n

The South African Revenue Service (SARS) accused Coronation of underestimating the taxes owed from its Irish subsidiary. <\/p>\n\n\n\n

The Supreme Court of Appeal agreed with the taxman and ruled that the asset manager must pay the nearly R800 million amount. <\/p>\n\n\n\n

However, the Constitutional Court has now ruled in favour of Coronation, stating that the group correctly interpreted and applied the relevant tax legislation. <\/p>\n\n\n\n

Following the judgement, the group has also withdrawn a cautionary announcement.<\/p>\n\n\n\n

Markets have responded positively to the update, with the group’s share price rising by roughly 4% today, 21 June. <\/p>\n\n\n

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Coronation Share Price<\/figcaption><\/figure><\/div>\n\n\n
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Read<\/strong>: Where to invest in South Africa: Woolworths vs Pick n Pay vs Spar vs Shoprite<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South Africa’s taxman has lost an R800 million tax battle with Coronation at the Constitutional Court. <\/p>\n","protected":false},"author":95,"featured_media":750336,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[13998,26],"class_list":["post-778204","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","tag-coronation-fund-managers","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/778204","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=778204"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/778204\/revisions"}],"predecessor-version":[{"id":778218,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/778204\/revisions\/778218"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/750336"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=778204"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=778204"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=778204"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}