Logistics major fights R513-m fine Panalpina is to appeal against its recent fine of the equivalent of over R513 million for antitrust behaviour from the European Commission, reports Lloyds Loading List. Sars spells out planned interventions to improve compliance SA Revenue Service last week spelled out its planned interventions to increase customs compliance when Commissioner Oupa Magashula presented the revenue authority’s 5-year strategic plan to the standing committee on finance. New restrictions on cheque payments on the way The South African Revenue Service (Sars) has advised taxpayers that from July 16 this year banks will no longer accept cheque payments exceeding R500 000 from their clients. Sanral CEO Alli resigns All parties are remaining tight-lipped about the reasons for the resignation of Nazir Alli, chief executive officer of SA National Roads Agency Limited. He tendered his resignation at a board meeting last Monday but agreed to continue in his post until June 3. Multinational intensifies costmanagement Kuehne + Nagel International will continue to pursue ambitious goals, but to counteract economic uncertainties the Group has intensified its cost- and margin management, Karl Gernandt said in his chairman’s address at the AGM last week. Sars loses appeal in capital gains case The South African Revenue Service and National Treasury have lost an appeal against a Tax Court judgement on taxation of capital gains with both parties studying the decision. “National Treasury and Sars are studying the judgement,” Finance Minister Pravin Gordhan said.
