Letshego revises profits after P118m tax bill

Letshego Holdings’ after-tax profits for the year ended December 31, 2017 have been adjusted downwards by 8.6% after the pan-African microlender incurred a P118.3 million tax bill dating back to 2014.

Letshego had cautioned investors about the possible tax bill when it initially published its year-end results on March 5. This week, the microlender revealed that year-end profits were now P681.3 million from the initially stated P745.4 million, after finalisation of the tax liability.

Letshego also adjusted its net asset value down 4.1% due to the tax bill.

Editor's Comment
Bulela Ditswe entry fee could hamper broke talent

The fees have been doubled from the previous amounts and raise concerns about political participation accessibility and democratic representation principles.This significant fee increase prompts questions regarding its impact on grassroots democracy.On one hand, the fees act as a filter, ensuring only serious contenders enter the race, potentially reducing frivolous candidacies and generating crucial campaign funds. The BDP argues that aspiring...

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