Sanlam - Settlement with South African Revenue Ser
SLM
SLM
Sanlam - Settlement with South African Revenue Services
Registered name: Sanlam Limited
(Registration number 1959/001562/06)
JSE share code: SLM
NSX share code: SLA
ISIN number: ZAE000070660
Sanlam: Settlement with South African Revenue Services
Shareholders are referred to the note on Commitments and contingencies in the
2005 and previous Sanlam Annual Financial Statements.
The South African Revenue Services (`SARS") had issued revised income tax
assessments in respect of the 1997, 1998 and 1999 tax years of a subsidiary of
Genbel Securities Limited (`Gensec"). In terms of the assessments surpluses
arising from the disposal of certain assets were subjected to normal income tax
as SARS contended that such surpluses were not of a capital nature. Gensec
contested these assessments.
A full and final settlement has now been reached on the above matter. The amount
payable in terms of the settlement will be covered by an existing accounting
provision.
Bellville
31 March 2006
Sponsor
JPMorgan Equities Limited
Date: 31/03/2006 04:40:15 PM Produced by the JSE SENS Department
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
