Spur taxes: Court judgment shows restaurant ‘misrepresented' R48m

Asia's Tech News Daily

© Provided by The South African

Spur, it’s a South African staple. Spur taxes? That’s a bit of a new one to the menu. The local restaurant powerhouse took a big blow in the Supreme Court of Appeal on Friday. According to the SCA, the restaurant did a bit of misrepresentation about a massive chunk of money, in order to pay less on tax.

Spur taxes: Ribs, burgers and R48 million

The SCA ruled on the legal matter between SARS and Spur. In it, the SCA ruled that Spur “misrepresented” a R48 million payment it had made into an employee management share incentive. According to SARS and the court, Spur had used that figure, in an attempt to qualify for a tax deduction.

In 2019, the Western Cape High Court had ruled that the R48 million was an expense “in the production of income”. Therefore it qualified as a tax deduction.

Also Read – Businessman goes to jail for filing fake invoices with SARS

SARS took the matter on appeal. And now here we are. So how did Spur benefit? According to the SCA judgment, the Spur group had wanted to receive over R12 million in tax deductions on the R48 million figure.

SARS on the hunt for taxes

After initially allowing the deductions, SARS decided to block them. It found that Spur made the contribution to the trust, of which SpurHoldCo was the sole beneficiary. Therefore, it argued that Spur was the only party to have benefited directly from the contribution to the trust.

So what’s the moral of the story? The SCA now says that it was the restaurant’s “misrepresentations and non-discolosures” that caused SARS not to assess the restaurant group correctly.

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