20°C / 22°C
  • Thu
  • 32°C
  • 14°C
  • Fri
  • 32°C
  • 14°C
  • Sat
  • 33°C
  • 16°C
  • Sun
  • 33°C
  • 17°C
  • Mon
  • 32°C
  • 18°C
  • Tue
  • 27°C
  • 15°C
  • Thu
  • 24°C
  • 15°C
  • Fri
  • 22°C
  • 14°C
  • Sat
  • 21°C
  • 13°C
  • Sun
  • 20°C
  • 13°C
  • Mon
  • 21°C
  • 14°C
  • Tue
  • 24°C
  • 14°C
  • Thu
  • 34°C
  • 16°C
  • Fri
  • 34°C
  • 16°C
  • Sat
  • 35°C
  • 17°C
  • Sun
  • 35°C
  • 17°C
  • Mon
  • 32°C
  • 20°C
  • Tue
  • 32°C
  • 17°C
  • Thu
  • 35°C
  • 16°C
  • Fri
  • 34°C
  • 16°C
  • Sat
  • 35°C
  • 18°C
  • Sun
  • 35°C
  • 19°C
  • Mon
  • 34°C
  • 20°C
  • Tue
  • 30°C
  • 18°C
  • Thu
  • 26°C
  • 19°C
  • Fri
  • 25°C
  • 19°C
  • Sat
  • 25°C
  • 21°C
  • Sun
  • 24°C
  • 19°C
  • Mon
  • 21°C
  • 19°C
  • Tue
  • 23°C
  • 19°C
  • Thu
  • 19°C
  • 14°C
  • Fri
  • 20°C
  • 14°C
  • Sat
  • 20°C
  • 16°C
  • Sun
  • 19°C
  • 16°C
  • Mon
  • 18°C
  • 14°C
  • Tue
  • 20°C
  • 15°C
  • Thu
  • 28°C
  • 15°C
  • Fri
  • 25°C
  • 14°C
  • Sat
  • 23°C
  • 11°C
  • Sun
  • 24°C
  • 9°C
  • Mon
  • 26°C
  • 10°C
  • Tue
  • 30°C
  • 13°C
  • Thu
  • 22°C
  • 15°C
  • Fri
  • 19°C
  • 14°C
  • Sat
  • 18°C
  • 13°C
  • Sun
  • 18°C
  • 13°C
  • Mon
  • 21°C
  • 13°C
  • Tue
  • 25°C
  • 14°C
  • Thu
  • 37°C
  • 17°C
  • Fri
  • 36°C
  • 18°C
  • Sat
  • 37°C
  • 19°C
  • Sun
  • 37°C
  • 19°C
  • Mon
  • 36°C
  • 21°C
  • Tue
  • 31°C
  • 20°C
  • Thu
  • 36°C
  • 21°C
  • Fri
  • 36°C
  • 19°C
  • Sat
  • 37°C
  • 18°C
  • Sun
  • 36°C
  • 18°C
  • Mon
  • 35°C
  • 17°C
  • Tue
  • 30°C
  • 18°C
  • Thu
  • 27°C
  • 12°C
  • Fri
  • 29°C
  • 10°C
  • Sat
  • 31°C
  • 12°C
  • Sun
  • 34°C
  • 14°C
  • Mon
  • 28°C
  • 16°C
  • Tue
  • 27°C
  • 16°C
  • Thu
  • 21°C
  • 13°C
  • Fri
  • 21°C
  • 13°C
  • Sat
  • 21°C
  • 14°C
  • Sun
  • 19°C
  • 13°C
  • Mon
  • 17°C
  • 12°C
  • Tue
  • 21°C
  • 13°C

Sasol to reverse provision over tax dispute

Sasol, the world’s top manufacturer of motor fuel from coal, said in a statement it made the provision after a tax court ruled in favour of Sars.

FILE: Picture: AFP.

JOHANNESBURG - South African petrochemicals group Sasol said on Friday it will reverse a provision of R1.3 billion after a previous unfavourable ruling over a tax dispute with the revenue service was overturned on appeal.

Sasol, the world’s top manufacturer of motor fuel from coal, said in a statement it made the provision after a tax court ruled in favour of the South African Revenue Service (Sars).

The revenue service had argued in court that some crude oil procurement contracts between Sasol’s Oil division and other Sasol units should be disregarded for tax purposes, which led to a higher tax liability for Sasol Oil.

Sasol then set aside the provision to cover penalties and interest payments relating to the tax dispute while appealing the case at the Supreme Court of Appeal, which on Friday set aside the previous ruling.

Comments

EWN welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

- Racism (including offensive comments based on ethnicity and nationality)
- Sexism
- Homophobia
- Religious intolerance
- Cyber bullying
- Hate speech
- Derogatory language
- Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the EWN community a safe and welcoming space for all.

EWN reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

EWN is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

comments powered by Disqus