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The state bank that pays out social grants blames a R44.5 million SARS interest charge for its loss, but its fee income halved under a Reserve Bank restriction and a write-back from Land Bank repayments held up what was left.
The South African Revenue Service (SARS) Commissioner, Johnstone Makhubu, has warned taxpayers that the authority will aggressively pursue debts owed to it, with a Letter of Final Demand issued for as little as R5,000.
'I'm not at liberty at this point to discuss any taxpayer matter that goes beyond those periods because then I'll be violating the confidentiality provisions.'