Coronation rallies after ConCourt rules in its favour in R800m SARS tax dispute
Coronation Fund Managers ' share price rallied on Friday morning after the Constitutional Court ruled in the company's favour in its almost R800-million tax dispute with the SA Revenue Service .
The Cape Town-headquartered asset manager announced in a stock exchange filing on Friday that it was withdrawing advice that shareholders exercise caution when trading its shares after the apex court set aside a February ruling by the Supreme Court of Appeal that it was liable for almost a billion rand in tax related to a protracted dispute with SARS.
"Coronation welcomes the judgment of the Constitutional Court, which confirms that CIMSA's interpretation and application of the relevant tax legislation has been correct and appropriate," the asset manager said in its stock exchange filing.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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