News Formal

Coronation bleeds after court rules it must pay large tax bill | Business

  • 📰 News24
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 80%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Coronation lost almost a billion rand in market value within an hour on Wednesday after the Supreme Court of Appeal ordered it to pay a large tax bill. | News24_Business

Coronation shares lost more than 11% after the Supreme Court of Appeal ordered it to pay a large tax bill.The dispute involves the tax status of its Irish business. Coronation lost almost a billion rand in market value within an hour on Wednesday after the Supreme Court of Appeal ordered it to pay a large tax bill.

Last year, SARS took the judgment on appeal to the SCA, which had to decide whether the Irish business qualifies for the tax exemption. CGFM outsourced its investment management to Coronation Asset Managers and Coronation International, neither of whom was a tax resident in Ireland.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

_Business R1 billion for MYANC looters to chow, that money won't even fix a single pothole!

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Supreme Court of Appeal ruled against mining companiesMining companies lost challenging appeal on the certification of Silicosis class action at the Supreme Court of Appeal.
Source: TheSAnews - 🏆 25. / 59 Read more »