Coronation shareholders could see their R800m tax liability turned into cash

Anton Pillay, CEO of Coronation Fund Managers, says he expects the Constitutional Court to rule on his tax dispute with SARS within the next three months.  (Image supplied)

Anton Pillay, CEO of Coronation Fund Managers, says he expects the Constitutional Court to rule on his tax dispute with SARS within the next three months. (Image supplied)

Coronation shareholders could be in for a huge windfall if a pending Constitutional Court decision into its R794-million tax dispute with the South African Revenue Service (SARS) goes the asset manager’s way.

The company confirmed in its interim results on Tuesday that the matter was heard by the high court on February 13, and is now awaiting the ruling of the nine deliberating judges, which could see the tax liability converted to cash flow free if Coronation wins the case. .

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