PLEASE NOTE:

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

 
JohnDough
 
Comments: 2
Article views: 11
 
 
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.

 

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
Comments have been closed for this article.

Read more from our Users

Submitted by
Linda Bullock
67 Minutes of prayer to remove th...

Nelson Mandela must turn in his grave when he sees the mess left behind with the cANCer party looting from left, right and centre our beloved country South Africa. Read more...

0 comments 1000 views
Submitted by
Angus Douglas
Black power versus human capital

When will South Africa have its Deng Xiaoping moment? The Chinese communist leader famously said, “It doesn’t matter whether a cat is white or black, as long as it catches mice.” Read more...

0 comments 951 views
Submitted by
Colin Webster452
Angelique “Scarlet” Ramos - Team ...

Angelique has been flying in the League Of Legends scene for some time now, competing in Championships for at least 2 years.  Read more...

0 comments 357 views
Submitted by
Lisa Marcelle Hold
Happy Birthday Tata

Corruption, wealth, hate, greed and power have become the cornerstones of our current government. Our current government represents everything Mandela was not. Read more...

0 comments 138 views
Submitted by
Peter Hollander
Zuma sold his morals to become Gr...

South-Africa is in the process of becoming a mafia-state. No two ways about it. Read more...

0 comments 713 views
Submitted by
6 Reader traffic fine questions a...

‘I keep getting fines for a vehicle I don’t own’, ‘I never received a court summons’… Wheels24 readers have their SA traffic-fine questions answered. Read more...

0 comments 9883 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 Android Get the latest from News24 on your Android device.

SMS Alerts Get breaking news stories via SMS.

TV Get us in your home, on your television.

 
Interactive Advertising Bureau
 
© 2017 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.