Shuttleworth loses R250m exchange control battle


Bob Broom 2015/06/18 11:32:08 AM
Here's a brilliant young South African who made a lot of money through his own initiative and intelligence, and the greedy ANC wants their cut, as usual, for doing precisely what? Incidentally, when he sold to a US co., he gave each of his staff (even the lowest earner) R1miilion bonus to say thank you for working for him. It's called compassion and generosity, ANC two words that are foreign to your collective vocabulary!
Joseph Motloung 2015/06/18 11:32:52 AM
I am with the government on this one, while it is undoubtedly painful for Mr Shuttleworth to part with R250 mil, if the appeal was dismissed it would have meant that the government would have had to pay back everyone who was charged an exit levy. That could easily run into trillions of rands at a time when we don't have money to settle the e-toll bill and don't have money to fund eskom amongst others. Every country in the world charges this kind of levy from people who transfer money out of that country. Not so long ago Christo Wiese was arrested at Heathrow airport with 8 million pounds that he wanted to transfer in suit cases because he wanted to avoid paying exit levies
Diego Ndabeni 2015/06/18 11:33:03 AM
These are the same courts that were hailed just a few days ago.
Henning Pantke 2015/06/18 11:34:01 AM
I think the issue here is much bigger than just Mark Shuttleworth. At the end of the day, one is not allowed to take something that belongs to you out of the country. This would also be another huge obstacle to get international investors to invest in SA.
Greg Moran 2015/06/18 11:37:46 AM
There is a big difference between granting leave to appeal and upholding an appeal. You confuse the two - what did the court actually decide?
Caslu Mbenzane 2015/06/18 11:41:14 AM
Those who work hard,get northing n the lazy get it all. Wow,wow
Ayanda M Masina 2015/06/18 11:46:23 AM
Good going, he made money in SA then he exports his profits to a tax haven he must pay that is justice
Bento Maepa 2015/06/18 11:54:33 AM
Leaving S.Africa ain't that cheap after all. A lesson to all those who are or have been entertaining the thought. Perhaps the FIFA way would be the better way.
Louise Cook 2015/06/18 11:57:04 AM
The Isle of Man is known to be a haven for the rich who indulge in funny-business tax schemes. It's excellent that the ConCourt reversed the decision.
Dr Johann Serfontein (PhD, MBL, MEd) 2015/06/18 11:59:57 AM
From the article it appears that leave to appeal the SCA ruling was granted. Does not mean the appeal will be successful. Unless the article was just ambiguously written
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