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South Africa tax service to take legal action against KPMG

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KPMG - [https://lh3.googleusercontent.com/t7Do5kpw8TH75WMvuCugZMIuJHkAiYOwvxXA9qHVPACNKL3UyR-514YTynQM_kY5cDHbp2bLauNko2R8r828kQ9GRB9jNYJCLQ=s750] KPMG - [https://lh3.googleusercontent.com/t7Do5kpw8TH75WMvuCugZMIuJHkAiYOwvxXA9qHVPACNKL3UyR-514YTynQM_kY5cDHbp2bLauNko2R8r828kQ9GRB9jNYJCLQ=s750]

South Africa’s Revenue Service (SARS) will launch legal proceedings against KPMG due to reputational damage caused by the auditor releasing details of a confidential report it produced for the tax agency, commissioner Tom Moyane said on Monday.

Moyane told a televised news conference that SARS would report KPMG to Finance Minister Malusi Gigaba with a view to blacklisting the auditor for its “unethical” and “unlawful” behavior.

KPMG cleared out its South African leadership en masse on Friday after damning findings from an internal investigation into work done for businessmen friends of President Jacob Zuma.


 

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CNBCAFRICA

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