Sasol turns to courts after Sars slaps it with tax bills worth R12.8bn

JSE-listed energy and chemicals group Sasol will approach the Supreme Court of Appeal (SCA) to resolve a tax dispute with the South African Revenue Service (Sars), which has slapped it with assessments for outstanding tax liabilities and penalties worth R12.8-billion. The company made a R1.2-billion provision in its 2017 financial statements for tax liabilities that could flow from an adverse Tax Court finding of June 30, relating to international crude oil procurement activities between 2005 and 2012. Sasol procures crude oil for processing in the Natref refinery, in the Free Sate.