Business In The News South Africa

Sars bust R6.2mln of undeclared currency destined for Dubai

JOHANNESBURG– A passenger en  route to Dubai was arrested at Durban’s King Shaka International Airport when customs officials uncovered undeclared currency worth R6.2 million, the South African Revenue Services (Sars) said on Friday. Sars said the passenger was departing to Dubai when its detector dog unit conducted a baggage search, and one of the detector dogs […]

Business In The News South Africa

SA Revenue Services denies Commissioner Moyane helped Zuma avoid paying tax

JOHANNESBURG, November 3 – The South African Revenue Services (Sars) on Friday denied that its Commissioner, Tom Moyane, was aiding President Zuma to avoid his tax obligations. This comes after last weekend’s Sunday Times’ lead story, “Gangster republic: inside the Zuma family’s dealings with the criminal underworld”, which was an extract from a book by investigative journalist and […]

Business In The News South Africa

Patrice Motsepe’s ARM cut ties with KPMG

JOHANNESBURG, October 24 – African Rainbow Minerals (ARM) on Monday, announced a decision to terminate its relationship with embattled auditing firm KPMG, citing governance and ethics compliance following “careful consideration”. “ARM has noted with concern the questions raised about KPMG’s governance and ethics compliance as well as allegations regarding the lawfulness of KPMG’s conduct,” ARM […]

Business In The News South Africa

Taxes, bailouts and political instability: Gigaba delivers inaugural MTBPS

JOHANNESBURG, October 23 – All eyes will be fixed on South African Finance Minister Malusi Gigaba this week when he delivers his first Medium-Term Budget Policy Statement (MTBPS) amid concerns about the fiscal challenges, widespread perceptions of government corruption and wasteful expenditure.   Gigaba, who took over the reigns of National Treasury following the controversial firing […]