Coronation shareholders set for a windfall after tax dispute win
The ruling could affect all SA firms with foreign businesses overseas in determining how their tax is calculated
21 June 2024 - 11:44
UPDATED 23 June 2024 - 18:41
Shareholders of asset management firm Coronation are likely to receive a cash injection after the group won its long-drawn out tax battle with the SA Revenue Service (Sars).
Coronation successfully overturned a potential R794m tax penalty to Sars after a Constitutional Court ruling on a tax dispute involving its Irish subsidiary. The Cape Town-based asset allocator had indicated that should it win the dispute, the money it had set aside might be returned to shareholders..
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