Gordhan given new deadline on tax questions
by Andre Janse van Vuuren,
2016-03-13 14:57:19.0
South African Finance Minister Pravin Gordhan has been given a new deadline of Monday by a special police unit to answer questions about an investigative branch in the South African Revenue Service (SARS) that was established when he headed the tax body, the Sunday Independent reported.
The Directorate for Priority Crime Investigation, known as the Hawks, wants information from Mr Gordhan on what he knew about a so-called "rogue unit" within the agency that investigated political leaders and taxpayers, the Johannesburg-based newspaper said, citing a letter by the police unit’s head Berning Ntlemeza to the minister’s lawyers.
Mr Gordhan refused to provide answers before an initial deadline on March 2, disputing the authority of the Hawks to question him on the matter, and said he would only respond after properly examining what information the police were looking for.
In the memorandum delivered to Mr Gordhan’s lawyers on Saturday, the Hawks said it may invoke statutory powers to ensure its investigation isn’t obstructed by unco-operative conduct, the Sunday Independent said. The Hawks identified Mr Gordhan as a key person who may assist the police in its investigation, Mr Ntlemeza wrote.
Hangwani Mulaudzi, a spokesman for the Hawks, and Phumza Macanda, a spokeswoman for Mr Gordhan, didn’t answer calls from Bloomberg seeking comment.
Economy issues
The investigation into SARS is taking place as Moody’s Investors Service said March 8 it’s putting SA’s credit rating on review for a downgrade because of weaker growth and poor fiscal outlook. A one-step cut by Moody’s would move its evaluation on par with that of Fitch Ratings and S&P’s, both of which are one level above junk.
Investor confidence in SA was hurt after President Jacob Zuma fired then-Finance Minister Nhlanhla Nene in December and replaced him with a little-known lawmaker, causing the rand and bonds to plunge. The market backlash and lobbying by business leaders and politicians forced Mr Zuma to backtrack four days later, leading him to reappoint Mr Gordhan to a position he had held from 2009 to 2014.
Bloomberg
Pravin Gordhan. Picture: SUNDAY TIMES
South African Finance Minister Pravin Gordhan has been given a new deadline of Monday by a special police unit to answer questions about an investigative branch in the South African Revenue Service (SARS) that was established when he headed the tax body, the Sunday Independent reported.
The Directorate for Priority Crime Investigation, known as the Hawks, wants information from Mr Gordhan on what he knew about a so-called "rogue unit" within the agency that investigated political leaders and taxpayers, the Johannesburg-based newspaper said, citing a letter by the police unit’s head Berning Ntlemeza to the minister’s lawyers.
Mr Gordhan refused to provide answers before an initial deadline on March 2, disputing the authority of the Hawks to question him on the matter, and said he would only respond after properly examining what information the police were looking for.
In the memorandum delivered to Mr Gordhan’s lawyers on Saturday, the Hawks said it may invoke statutory powers to ensure its investigation isn’t obstructed by unco-operative conduct, the Sunday Independent said. The Hawks identified Mr Gordhan as a key person who may assist the police in its investigation, Mr Ntlemeza wrote.
Hangwani Mulaudzi, a spokesman for the Hawks, and Phumza Macanda, a spokeswoman for Mr Gordhan, didn’t answer calls from Bloomberg seeking comment.
Economy issues
The investigation into SARS is taking place as Moody’s Investors Service said March 8 it’s putting SA’s credit rating on review for a downgrade because of weaker growth and poor fiscal outlook. A one-step cut by Moody’s would move its evaluation on par with that of Fitch Ratings and S&P’s, both of which are one level above junk.
Investor confidence in SA was hurt after President Jacob Zuma fired then-Finance Minister Nhlanhla Nene in December and replaced him with a little-known lawmaker, causing the rand and bonds to plunge. The market backlash and lobbying by business leaders and politicians forced Mr Zuma to backtrack four days later, leading him to reappoint Mr Gordhan to a position he had held from 2009 to 2014.
Bloomberg
Change: 1.37%
Change: 1.54%
Change: 1.38%
Change: 1.30%
Change: 2.07%
Data supplied by Profile Data
Change: 0.52%
Change: 1.28%
Change: 1.37%
Change: 0.00%
Change: 1.64%
Data supplied by Profile Data
Change: 0.69%
Change: 0.78%
Change: 0.66%
Change: 0.98%
Change: 0.58%
Data supplied by Profile Data
Change: 0.43%
Change: 0.62%
Change: 0.97%
Change: -0.52%
Change: -1.58%
Data supplied by Profile Data