GladAfrica slapped with R500m bill
GladAfrica has been hit with a tax bill of more than R500m by SARS, reports City Press.
The construction engineering giant could face a writ of execution to sell its assets if it cannot settle the bill within a stipulated time allocated by the revenue collector.
A letter of demand sent to the former sponsors of the lower division of the Premier Soccer League (PSL) yesterday states that civil action might be entered against the entity for the outstanding tax debt.
It states that according to SARS’ records, GladAfrica has failed to pay its tax debt for one or more tax years.
SARS spokesperson Anton Fisher said it could not discuss private taxpayer issues.
GladAfrica made headlines in May last year when a forensic report from the Auditor-General revealed that the City of Tshwane had irregularly awarded it contracts amounting to R12bn to manage municipal infrastructure projects.
In 2019, the Auditor-General flagged that the contract was irregular.
However, both GladAfrica and the City of Tshwane subsequently terminated the contracts by mutual agreement.
GladAfrica is renowned for its multimillion-rand partnership with the PSL, which ended last year.
This resulted in a court challenge by the league, which demanded R30m for contract breach.
Article disclaimer: While we have made every effort to ensure the accuracy of this article, it is not intended to provide final legal advice as facts and situations will differ from case to case, and therefore specific legal advice should be sought with a lawyer.