Prevailing Securities wants P81.7m tax notice revisited

In February last year, the BURS impounded vehicles belonging to Prevailing Securities owner, Shadrack Baaitse for tax related issues.   This month, Baaitse through his attorneys, Serole & Partners wrote to the BURS demanding reassessment as was previously agreed by the tax master. 

“Client instructs us that upon receipt of notice of assessment in the total sum of P81,766, 882, 46 (VAT and Income Tax inclusive) it submitted detailed list and/or account of matters which were not taken into consideration when they ought to have been at the time of assessment,” Serole & Partners wrote.