The SA Revenue Service (Sars) is on the heels of controversial businessman Edwin Sodi, threatening to seize his assets if he fails to pay more than R400 million of his outstanding tax debt.
The revenue collector issued a final letter of demand last week, highlighting that the businessman owed the taxman an amount stipulated as R408 071 575.71.
He was given 10 business days to respond to Sars’ demand:
You may within 10 business days from the date of this letter of demand apply for any of the following remedies: payment installments where you are unable to pay the full amount, suspension of the debt where you intend to submit or have submitted a formal dispute, compromise of a portion of the tax where this will provide a higher return to the fiscus than liquidation, sequestration or other collection measures.
The letter also says that if the flamboyant businessman fails to agree on a payment structure or settle the amount in full, Sars will seek an order from the high court to render his estate executable.
Sars spokesperson Anton Fisher said they did not discuss private taxpayer information with third parties.
He said:
As you know Chapter 6 of the Tax Administration Act prohibits SARS from disclosing confidential information about any taxpayer
Sodi is known for his extravagant lifestyle, including an R85 million mansion in Johannesburg’s affluent suburb of Bryanston, but his name has become synonymous with botched public projects.
He is the CEO of Blackhead Consulting, G-5 Group which has notched up several failed lucrative government tenders that have seen him making headlines for all the wrong reasons. He is also known to be a generous donor to the ANC.
The most recent revelations suggest the Gauteng Department of Human Settlements paid Sodi’s company R134 million for a Diepsloot housing project conceived in 2013 without a single house having been built.
His luxury fleet of cars includes a R3 million Bentley Continental GT, a Porsche Cayenne S Coupé priced at R2 million, and a whopping R3 million Ferrari Four F151, all of which have since been seized by the asset forfeiture division of the National Prosecuting Authority.
He marked his 50th birthday in an extravagant party held at his Bryanston mansion in October last year.
Attempts to solicit comment from Sodi drew a blank as all his known numbers went unanswered.
