WLO WLN WLP1 WLOP
WLO
Wooltru Limited - Successful Tax appeal
WOOLTRU LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1936/008278/06)
Share code: WLO ISIN: ZAE000007993 Share code: WLP1 ISIN: ZAE000008017
Share code: WLN ISIN: ZAE000008744 Share code: WLOP ISIN: ZAE000008009
("Wooltru")
Successful Tax appeal
The note regarding contingent liabilities in Wooltru`s Annual Financial
Statements for the year ended 30 June 2006 stated: "South African Receiver of
Revenue (SARS) raised an assessment for the 2001 year adding back an amount as a
taxable recoupment with interest and penalties." The amount was noted as a
contingent liability as the claim was disputed.
Judgement was given in the Tax Court Cape Town on 11 December 2006 stating that
"the appeal succeeds and the assessment is referred back to the respondent
(SARS) for reassessment on the basis that the allowance in question were not
recouped by Wooltru."
In terms of Court rules, SARS has 21 days after official notice to lodge an
appeal - this excludes Court holidays from 16 December 2006 to 15 January 2007.
11 December 2006
Cape Town
Sponsor: Bridge Capital Advisors (Pty) Limited
Date: 11/12/2006 17:18:50 Produced by the JSE SENS Department.
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