kiddy Posted March 7, 2015 Share Posted March 7, 2015 You mean this South African Article 1 of 1 DOCUMENT The Weekender (South Africa) November 11, 2008 Business Day Edition King's tax assessment valid - SARS BYLINE: Chantelle Benjamin SECTION: ECONOMY, BUSINESS & FINANCE; Pg. 4 LENGTH: 550 words King's tax assessment valid - SARS Claim based on benefits from assets Chief Reporter THE South African Revenue Service ( SARS ) stands by its tax assessment of Dave King, which found that he owed R913m, despite the businessman's insistence in a recent media briefing that the taxman had conceded during legal action that 92% of the assessment was no longer valid. At the briefing la st week, King said he planned to launch an action by the end of the year in the Income Tax Court to have his tax liabilities reassessed. It will be on the grounds that most of the tax claim against him is based on South African assets, which include a Sand hurst property in Johannesburg, a Ferrari and a Hawker 800 XP and Falcon 900 aircraft. If successful, he said, the move would force SARS to start its legal action against him from scratch, based on new assessments. SARS spokesman Adrian Lackay said yesterd ay the taxman stood by its tax assessment for 1990 to 2001. "There is nothing wrong with the tax assessments. They are based on benefits King received from the assets - not the assets themselves." King's argument on his tax assessment stems from the recent case brought by SARS in the Pretoria High Court aimed at "piercing the corporate veil" to ascertain who owns certain assets in SA, most of which, like a large Sandhurst house, were being used by King. SARS planned to seize the local assets to settle the t ax debt of King and Ben Nevis, a Guernsey - based investment entity that is alleged to owe R1,4bn in taxes for the sale of Specialised Outsourcing shares. In an affidavit, Gordon Hay, on behalf of SARS , conceded halfway through the recent court case that SAR S was no longer pursuing action against King over the South African assets. It accepted an argument by King, representatives of Ben Nevis and offshore holding company Metlika Trading, that the assets, as of December 2000, were no longer owned by King. SARS believes that as the net closed on Ben Nevis, its South African assets, worth about R500m, were transferred to King's Glencoe Trust and then to Metlika, severing links with Ben Nevis and making it difficult for the taxman to get his hands on the funds. Wh at SARS is questioning, according to Hay, is "whether the transfer from Ben Nevis to Metlika was an improper transaction in the sense of constituting a fraud on SARS as the creditor or future creditor". Any fraudulent transaction could be declared null and void, making it possible for the taxman to collect on its taxes from Ben Nevis. King holds that he cannot be taxed on assets he does not own and it is on these grounds that he will take the case to the Income Tax Court. But SARS contends he can be taxed if he obtains benefits from those assets. King's tax assessment is made up, among other things, of a R4,8m tax bill on his Sandhurst house, R101,44m on a Falcon 900, R188,47m on a Talacar shareholders loa n account, R2,1m on a Ferrari, R17,24m for living expenses and - his largest single tax claim - R200m income from Rangers Football Club, as well as R281,28m in penalties and R20m in taxes on income from the Amazulu Football Club, which King insists he boug ht for R1 in return for paying outstanding salaries and financial obligations for the club. King also faces a criminal trial involving more than 300 charges. LOAD - DATE: January 21, 2009 LANGUAGE: ENGLISH PUBLICATION - TYPE: Newspaper JOURNAL - CODE: BD Copyright 2008 BDFM Publishers PTY Ltd. All Rights Reserved Google is your friend. Funny the South African article says the same thing ... R200m and INCOME. ... Edit: What was it this blogger didn't understand? Rangers speak? Amazulu? Too good to be forgotten. 0 Quote Link to comment Share on other sites More sharing options...
derbydan Posted March 7, 2015 Share Posted March 7, 2015 Has King and Co scaled back on the Millions of investment already! Sounded much that way from Paul Murray today! 0 Quote Link to comment Share on other sites More sharing options...
accietilleyedye Posted March 7, 2015 Share Posted March 7, 2015 Has King and Co scaled back on the Millions of investment already! Sounded much that way from Paul Murray today! They have invested plenty , they all paid full price for the club ties 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted March 7, 2015 Author Share Posted March 7, 2015 Div wants to get a grip on these really annoying adverts though.... 0 Quote Link to comment Share on other sites More sharing options...
Doink Posted March 7, 2015 Share Posted March 7, 2015 Warchest 0 Quote Link to comment Share on other sites More sharing options...
lithgierose Posted March 7, 2015 Share Posted March 7, 2015 cowdenbeath 0 Quote Link to comment Share on other sites More sharing options...
kiddy Posted March 7, 2015 Share Posted March 7, 2015 Looks like their quantum might be a bit lacking, for what's required. 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted March 7, 2015 Author Share Posted March 7, 2015 http://www.northantstelegraph.co.uk/news/top-stories/rangers-fans-get-stuck-in-to-mr-custard-1-3632455 0 Quote Link to comment Share on other sites More sharing options...
Diamonds are Forever Posted March 7, 2015 Share Posted March 7, 2015 I listened to Paul Murray's interview on Sportsound earlier. Utterly delusional and clearly he's learned nothing from the last few years. Rangers will be back challenging Celtic in 2 years, Rangers are the biggest club in Scotland and need to lead the way on Scottish football, the standard of the Premiership is lower since Rangers declined (possibly because there is one less team spending money on players they can't afford) were amongst some of his claims. His generation of Rangers fans will never change, they've been brainwashed to believe this nonsense. However I suppose they have little choice but to believe him, the alternatives are even worse. 0 Quote Link to comment Share on other sites More sharing options...
cyderspaceman Posted March 7, 2015 Share Posted March 7, 2015 http://www.northantstelegraph.co.uk/news/top-stories/rangers-fans-get-stuck-in-to-mr-custard-1-3632455 I managed to miss the whole Mr Custard thing. Always wondered what the references were. Another hilarious nail in the fourstars coffin. 0 Quote Link to comment Share on other sites More sharing options...
P45 Posted March 7, 2015 Share Posted March 7, 2015 I listened to Paul Murray's interview on Sportsound earlier. Utterly delusional and clearly he's learned nothing from the last few years. Rangers will be back challenging Celtic in 2 years, Rangers are the biggest club in Scotland and need to lead the way on Scottish football, the standard of the Premiership is lower since Rangers declined (possibly because there is one less team spending money on players they can't afford) were amongst some of his claims. His generation of Rangers fans will never change, they've been brainwashed to believe this nonsense. However I suppose they have little choice but to believe him, the alternatives are even worse. He's pandering to the lowlife Rangers fans. The stuff about challenging Celtic when they can't beat Cowdenbeath is a joke. 0 Quote Link to comment Share on other sites More sharing options...
pozbaird Posted March 7, 2015 Author Share Posted March 7, 2015 He's pandering to the lowlife Rangers fans. The stuff about challenging Celtic when they can't beat Cowdenbeath is a joke. I hope those Cowdenbeath boys enjoy a beer tonight. After a humping like that from Hearts, to bounce back with a clean sheet and a point against the KingStar Franchise is impressive. 0 Quote Link to comment Share on other sites More sharing options...
Dr Koop Posted March 7, 2015 Share Posted March 7, 2015 Sarver's name seems to have popped up again. Come into my parlour, said the fly to the spider. 0 Quote Link to comment Share on other sites More sharing options...
beermonkey Posted March 7, 2015 Share Posted March 7, 2015 Have they won the champions league yet ? 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted March 7, 2015 Share Posted March 7, 2015 I listened to Paul Murray's interview on Sportsound earlier. Utterly delusional and clearly he's learned nothing from the last few years. Rangers will be back challenging Celtic in 2 years, Rangers are the biggest club in Scotland and need to lead the way on Scottish football, the standard of the Premiership is lower since Rangers declined (possibly because there is one less team spending money on players they can't afford) were amongst some of his claims. His generation of Rangers fans will never change, they've been brainwashed to believe this nonsense. However I suppose they have little choice but to believe him, the alternatives are even worse. I'm sure that I've read a post very similar to this recently.... 0 Quote Link to comment Share on other sites More sharing options...
Pete's Frontier Posted March 7, 2015 Share Posted March 7, 2015 Murray is a complete tool, no different to the average orc in that regard, but it sounds to me he hasn't yet grasped the reality of a loss making business with no credit line and a delisting approaching. This is aside from the fact The Sevco is a barely floating wreck, holed below decks in more places than he and his Lying King can ever hope to plug. The fact King does not want to immediately settle with Ashley tells you all you need to know. The enterprise is heading for liquidation. 0 Quote Link to comment Share on other sites More sharing options...
bennett Posted March 7, 2015 Share Posted March 7, 2015 Out of interest why would they 'settle' with Ashley before they've had a chance to look things over and find what the deals and contracts are? 0 Quote Link to comment Share on other sites More sharing options...
sjc Posted March 7, 2015 Share Posted March 7, 2015 If there's anything linking Murray with anything criminal then I'd like to see him dragged through the courts and banged up. I genuinely think the authorities are actually after him NOT Whyte. 0 Quote Link to comment Share on other sites More sharing options...
nsr Posted March 7, 2015 Share Posted March 7, 2015 Cows and Beef 0 Quote Link to comment Share on other sites More sharing options...
THE KING Posted March 7, 2015 Share Posted March 7, 2015 (edited) Cowdrawnbeath Edited March 7, 2015 by THE KING 0 Quote Link to comment Share on other sites More sharing options...
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