PLEASE NOTE:

MyNews24 is a user-generated section of News24.com. The stories here come from users.

 
JohnDough
 
Comments: 2
Article views: 2445
 
 
Latest Badges:

 
View all JohnDough's badges.
 

SARS funds SANRAL with R3.2 billion

03 April 2014, 13:33

As with any other legal business entity SANRAL is subject to the Valued Added Tax Act of South Africa. This allows them to claim any Input Tax charged on goods and services procured in order for them to conduct day-to-day business. They have to then deduct any Input Tax from any Output Tax they charge to their customers and then pay or claim the difference from SARS.

Using round figures the Input Tax from the –e-toll development is around R3 200 000 000 and while this was claimed over the development period it also means that SARS financed SANRAL by the same amount as there was zero income or very little Output Tax for SANRAL until 3 December 2013. In other words, a nice fat tax and interest free SARS loan at our expense once again.

Now that SANRAL is an income generating concern are they paying SARS the difference between Input Tax and Output Tax? If so that must be denting their cash flow considering that only 9% of invoices issued have been paid.

In fact, I wonder if SANRAL is fully SARS compliant. Somehow I doubt it. SANRAL can suckmytoll-e.co.za

Disclaimer: All articles and letters published on MyNews24 have been independently written by members of News24's community. The views of users published on News24 are therefore their own and do not necessarily represent the views of News24. News24 editors also reserve the right to edit or delete any and all comments received.

 

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
2 comments
Add your comment
Comment 0 characters remaining

Read more from our Users

Submitted by
Thamsanqa D. Malinga
It's absolute cow dung sir

I don’t follow Minister Fikile Mbalula on any social media platform nor do I support his party.  Read more...

3 comments 133 views
Submitted by
Peter Currie983
How could they?

After watching a progam on DSTV (Carte Blanche) about elderly abuse I was shocked for two reasons. Read more...

1 comments 74 views
End corruption before it destroys...

Corruption is not taking South Africa anywhere. It is the enemy of development and of good governance and must be eradicated as soon as possible. Read more...

0 comments 16 views
Submitted by
Kalibanache
Having a Heart for an Atheist....

I get pretty buoyant expressing my Christian perspectives and I must say that upon reflection , I remind myself that everybody has their story to tell. Read more...

43 comments 721 views
Submitted by
Victor
Psalm 14:1 The fool says in his h...

Christians believe in God using the gift of faith - which they receive from God, when they believe in him. That might sound like circular reasoning to rational people but to the faithful it makes sense.  Read more...

34 comments 457 views
Submitted by
Judi Cramb Steel
No to new E-Toll Plan

I pay my taxes, exercise my right to vote, still pay my SABC tv licence, pay for a post office box rental when post doesn’t get delivered because of striking workers, but now am drawing the line. Read more...

13 comments 1423 views
 

services

E-mail Alerts The latest headlines in your inbox

RSS feeds News delivered really simply.

Mobile News24 on your mobile or PDA

E-mail Newsletters You choose what you want

News24 on your iPhone Get News24 headlines on your iPhone.

News24 on Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

Blogs Your opinion on you, me and everyone.

 
Interactive Advertising Bureau
 
© 2015 24.com. All rights reserved.
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.