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Finweek English Edition - - COMPANIES & MARKETS -

REMGRO’s an­nual fi­nan­cial state­ments to endMarch 2011 show a marked jump in guar­an­tees and con­tin­gent li­a­bil­i­ties to R2,2bn from R389m in its last fi­nan­cial year. Ac­cord­ing to a note on its fi­nan­cial state­ments the in­crease re­lates mainly to two tax as­sess­ments re­ceived from the SA Rev­enue Ser­vice. One as­sess­ment of R894m re­lates to the buy­back and can­cel­la­tion of trea­sury shares; the other as­sess­ment of R690m is­sued about the dis­posal of an (un­spec­i­fied) in­vest­ment. Remgro says the as­sess­ments are be­ing dis­puted. The guar­an­tees and con­tin­gent li­a­bil­i­ties rep­re­sent around 4% of Remgro’s mar­ket cap­i­tal­i­sa­tion.

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