Kaya 959 Kaya Biz

Adidas at loggerheads with SARS over R1.9BN the tax authority claims it's owed.

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GUEST – Thulaganyo Selokela - Senior Associate, Tax and Exchange Control lawyer at CMS South Africa

German sportswear giant Adidas is at loggerheads with the South African Revenue Service (SARS) over R1.9 billion the tax authority claims it's owed. Business Day reported on the dispute on Monday, saying it had learned the SARS dispute over years of alleged underpayment on custom duties was with Switzerland-based Adidas International Trading and the company's SA unit. While Adidas had not yet immediately responded to requests from News24 for comment, the company said in its 2022 annual report it was in "dispute with the local revenue authorities in South Africa with regard to the customs value of imported products".
13 Jun 2023 5PM English South Africa Business News · Investing

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