Amid a prolonged legal battle, Capitec’s bid to deduct the VAT that is tied to its loans and insurance policies is still under the SA Revenue Service’s (Sars’) scrutiny.
The bank warns that the Constitutional Court’s possible verdict favouring Sars could ripple through the banking sector, affecting credit availability and consumers.
Kabelo Khumalo, Business Day companies and markets editor, unpacked this in greater detail with Business Day TV.
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