German sportswear giant Adidas is at loggerheads with the South African Revenue Service over R1.9 billion the tax authority claims it's owed.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.
According that SARS had issued a ruling in June 2018 claiming a"customs payment including interest and penalties for the years 2007 to 2013".A deep dive into the big business story of the week, as well as expert analysis of markets and trends.The company said it had applied for a suspension of the payment demand and had in 2019 instituted legal action against the decision before the high court.
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