Sasol Oil reverses R1.3bn tax provision after favourable court ruling

Energy and chemicals group Sasol reported on Friday that it would reverse a R1.3-billion provision made in its 2018 annual financial statements after the Supreme Court of Appeal overturned an earlier adverse finding against Sasol Oil by the Tax Court. Sasol Oil and the South African Revenue Service have been in a long-running dispute over Sasol Oil’s international crude oil procurement activities for the tax years covering the period 2005 to 2014.