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Cape Town – The unfolding loan saga between tax rebel Dave King and golf icon Gary Player has now triggered the interest of the South African Revenue Service (Sars.)
“Sars will investigate the matter and will take such action as is appropriate in accordance with the powers and duties afforded by law,” said Sars spokesperson Adrian Lackay.
“Sars has been made aware of the fact that an application was launched by Mr Dave King. Sars is not a party to this application and has not had sight of the court papers.”
Earlier this year the Scottish-born King struck a deal with Sars about his disputed tax debt of about R2.75bn.
He is now claiming R33m from Player, for what he says was a loan of R6.1m made to the golf icon in July 1999 plus interest on the loan.
In court papers King claims he did not call in the loan during the past 13 years because he knew Sars would immediately have seized it to offset his disputed tax debt.
Pending the outcome of his claim, the Grahamstown High Court has granted King an interim interdict to attach shares held by Player in the Gary Player Stud Farm near Colesberg.
King obtained the interim interdict based on an allegation that Player is not resident in South Africa, and that a South African court therefore has no jurisdiction over him.
By agreement between the parties, King’s application to attach was postponed until September 5.
“We have not received any indication whether the main claim has been institiuted,” said Player’s attorney Rael Gootkin of Werksmans Attorneys.
His firm has established that King had never disclosed the alleged loan to his curator.
“Mr Player denies the allegations made by King in his affidavit. He has never been a party to any extension of repayment of the alleged loan in the light of King’s fear that same could be attached by Sars,” said Gootkin.
“We shall oppose King’s application for attachment and will confirm that the South African courts already have jurisdiction over Mr Player.
"He has a South African passport and although he travels overseas as a professional, he always returns to South Africa as his main residence, despite owning a property in the USA.”
Gootkin will also dispute King's claim that Player owes him monies.
“I shall be very surprised if Sars does not intervene in King’s application as they have a real interest in the matter. Mr Player denies King’s claim," said Gootkin.
"Based on King’s papers filed do date, he seems to make a clear admission that he has never disclosed any such alleged loan.”
It has been reported earlier that Player alleges King paid him the original sum so that he could travel with him to major international sports events, which he then did.
According to a reliable source, King should have mentioned such a loan as well as the interest he now claims in a statement of affairs when filing his tax returns.
“By bringing this application against Player he has just brought more attention to the manner in which he dealt with his tax affairs,” said the source.
- Fin24
“Sars will investigate the matter and will take such action as is appropriate in accordance with the powers and duties afforded by law,” said Sars spokesperson Adrian Lackay.
“Sars has been made aware of the fact that an application was launched by Mr Dave King. Sars is not a party to this application and has not had sight of the court papers.”
Earlier this year the Scottish-born King struck a deal with Sars about his disputed tax debt of about R2.75bn.
He is now claiming R33m from Player, for what he says was a loan of R6.1m made to the golf icon in July 1999 plus interest on the loan.
In court papers King claims he did not call in the loan during the past 13 years because he knew Sars would immediately have seized it to offset his disputed tax debt.
Pending the outcome of his claim, the Grahamstown High Court has granted King an interim interdict to attach shares held by Player in the Gary Player Stud Farm near Colesberg.
King obtained the interim interdict based on an allegation that Player is not resident in South Africa, and that a South African court therefore has no jurisdiction over him.
By agreement between the parties, King’s application to attach was postponed until September 5.
“We have not received any indication whether the main claim has been institiuted,” said Player’s attorney Rael Gootkin of Werksmans Attorneys.
His firm has established that King had never disclosed the alleged loan to his curator.
“Mr Player denies the allegations made by King in his affidavit. He has never been a party to any extension of repayment of the alleged loan in the light of King’s fear that same could be attached by Sars,” said Gootkin.
“We shall oppose King’s application for attachment and will confirm that the South African courts already have jurisdiction over Mr Player.
"He has a South African passport and although he travels overseas as a professional, he always returns to South Africa as his main residence, despite owning a property in the USA.”
Gootkin will also dispute King's claim that Player owes him monies.
“I shall be very surprised if Sars does not intervene in King’s application as they have a real interest in the matter. Mr Player denies King’s claim," said Gootkin.
"Based on King’s papers filed do date, he seems to make a clear admission that he has never disclosed any such alleged loan.”
It has been reported earlier that Player alleges King paid him the original sum so that he could travel with him to major international sports events, which he then did.
According to a reliable source, King should have mentioned such a loan as well as the interest he now claims in a statement of affairs when filing his tax returns.
“By bringing this application against Player he has just brought more attention to the manner in which he dealt with his tax affairs,” said the source.
- Fin24
