The Global Resource For Connecting Buyers and Sellers

Kumba prepares to fight R5.5bn Sars tax assessment

JSE-listed Kumba Iron Ore on Monday vowed to fight a R5.5-billion South African Revenue Service (Sars) tax assessment. The group said its 73.9%-owned subsidiary Sishen Iron Ore Company (SIOC) had been slapped with the multibillion-rand assessment for the tax years 2006 to 2010, which included some R3.7-billion in interest and penalties.