Blow for ANC-backing, Russian oligarch-linked mining firm in R350m SARS battle | Business

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ANC donor UMK, linked to sanctioned Russian oligarch Viktor Vekselberg, has been dealt a blow by the Supreme Court of Appeal in its battle with SARS over a R351m tax assessment. | News24_Business

News24 Business front pageANC donor United Manganese of the Kalahari , which is linked to sanctioned Russian oligarch Viktor Vekselberg, has been dealt a blow by the Supreme Court of Appeal in its battle with the SA Revenue Service over a R351 million tax assessment.

The miner, which was once partly owned by Vekselberg's Renova Group before he sold down his stake, donated over R15 million to the ANC in November 2022 ahead of its elective conference. It donated R10 million earlier that year as well. In 2017, SARS told UMK it was doing an income tax audit for 2011, 2012 and 2013. The audit was completed in January 2020, and it was determined that UMK owed it R351 million at the end of the following month. The amount excluded interest levied on the dividend tax assessment. On 17 February, UMK said it was challenging SARS' assessment at the North Gauteng High Court in Pretoria.

 

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_Business It would appear the 2024 ANC. election will be heavily funded by Russians which is a huge risk

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