SARS has appointed liquidators to reclaim R90 million from Kaizer Chiefs Boss Bobby Motaung and his business partners for failing to pay their company’s taxes. The Chiefs’ team manager is Bobby Motaung.
The R90 million is believed to be the outstanding balance of R97 million requested by SARS from Nthwese Investment Holding Consortium, whose directors were Motaung, Herbert Theledi, Reitumetse Huntley, and Job Sikhosana.
The liquidators, Herman Bester and Amanda Khanyisa Bikani, have also accused Motaung and Co of illegally depositing approximately R8 million into Kaizer Holdings’ accounts under the guise of a loan. The sole active directors of Kaizer Holdings are the father (Kaizer Motaung) and son (Bobby).
Itje-leswika, Rorisang Women Investment Holdings, Leruo Development Trust, BLI-HD Employees Trust, Moatshe Trust, Nthwese Trust, Mauba Trust, Grey Jade Trade and Invest 169, and Kaizer Holdings are among Nthwese’s stockholders, according to Sunday World.
According to the liquidators, Motaung and his colleagues founded Nthwese Investment Holding Consortium some years ago with the intention of purchasing stakes in numerous companies. They stated that Nthwese obtained shares but sold them on November 14, 2007, with a financial gain of more than R183 million.
According to the company’s financial filings, after paying various creditors and dividends to shareholders, approximately R3 million was kept as tax provision. However, according to the liquidators, this money was not paid to SARS.