{"id":61883,"date":"2024-02-27T17:32:40","date_gmt":"2024-02-27T17:32:40","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim"},"modified":"2024-02-27T17:58:16","modified_gmt":"2024-02-27T17:58:16","slug":"sars-slaps-sasfin-with-r4-9-billion-claim","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim","title":{"rendered":"SARS slaps Sasfin with R4.9 billion claim"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Sasfin Bank, a wholly-owned subsidiary of Sasfin Holdings, has been served a civil summons for R4.87 billion plus interests and costs in the form of damages claim from SARS.<\/p>\n

The summons was received on 9 January 2024 and followed SARS\u2019 inability to collect income tax VAT and penalties allegedly owed by former foreign exchange clients.<\/p>\n

\u201cFormer foreign exchange clients of the Bank operated as a syndicate that ran an unlawful scheme to facilitate the expatriation of money out of South Africa and colluded with former employees of the Bank who operated outside the scope of their employment,\u201d the group said.<\/p>\n

\u201cThe Bank took decisive action when it became aware of this unlawful scheme, including instituting an expanded investigation led by an independent forensic consultancy. This resulted in the termination of relationships with the implicated clients and employees and the opening of criminal cases against them.\u201d<\/p>\n

After receiving the summons, the Bank obtained a legal opinion from ENS, which stated that the claim falls outside of the recognised parameters of applicable law and has a small chance of success.<\/p>\n

On the basis of the Legal Opinion, Sasfin has concluded that the claim will not result in the recognition of any liability.<\/p>\n

Although the matter has been announced on SENS, Sasfin\u2019s board believes that SARS\u2019 claim has no merit and little chance of success.<\/p>\n

\u201cThe Bank will therefore defend the claim, and given that this involves a defended trial action, the matter is only likely to come to trial in several years\u2019 time,\u201d<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Sasfin Bank, a wholly-owned subsidiary of Sasfin Holdings, has been served a civil summons for R4.87 billion plus interests and costs in the form of damages claim from SARS. The summons was received on 9 January 2024 and followed SARS\u2019 inability to collect income tax VAT and penalties allegedly owed by former […]<\/p>\n","protected":false},"author":84,"featured_media":61882,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[274,315,275],"class_list":["post-61883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nSARS slaps Sasfin with R4.9 billion claim - South Africa<\/title>\n<meta name=\"description\" content=\"Sasfin Bank, a wholly-owned subsidiary of Sasfin Holdings, has been served a civil summons for R4.87 billion plus intere ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SARS slaps Sasfin with R4.9 billion claim\" \/>\n<meta property=\"og:description\" content=\"Sasfin Bank, a wholly-owned subsidiary of Sasfin Holdings, has been served a civil summons for R4.87 billion plus intere ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-27T17:32:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-02-27T17:58:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1709043866.715952.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"576\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"SARS slaps Sasfin with R4.9 billion claim\",\"datePublished\":\"2024-02-27T17:32:40+00:00\",\"dateModified\":\"2024-02-27T17:58:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\"},\"wordCount\":269,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/02\/sm_1709043866.715952.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/sars-slaps-sasfin-with-r4-9-billion-claim\",\"name\":\"SARS slaps Sasfin with R4.9 billion claim - 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