Boutique banking and wealth management firm Sasfin reported a steep 62.5% slide in headline earnings for the six months ended 31 December 2023 on Wednesday.
Sasfin CEO Michael Sassoon said earlier that the group would defend the claims and that they had no merit.“The summons, according to Sasfin, arises from Sars’ purported inability to collect income tax, VAT , and penalties allegedly owed by former foreign exchange clients of Sasfin Bank.
The group, however, continues to engage with Sars on the matter. The value of the claim is more than 10 times the group’s market capitalisation on the JSE. ADVERTISEMENT CONTINUE READING BELOW Group focusing on core businesses
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