n Tax Breaks Newsletter - SARS flaunts its power to preserve assets : enforcement

Abstract

SARS is flexing its muscles to preserve assets to ensure tax collection, a tax expert says. Arguably the most widely reported preservation order handed down over the past year has been for the preservation of Mark Krok's assets. Krok is a former South African businessman. This followed a request from the Australian Taxation Office, and effectively secured all Krok's assets to the value of R297 million for the collection of unpaid tax debt of R249 million owed to the Australian Taxation Office.