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S.A-De Beers tax dispute resolved
Both sides decline to provide further details of settlement
By: Reuters
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Feb 12 2007 12:00AM
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Reference: 1552  

DecreaseIncrease

Sandile Nogxina, Director General, Minerals and Energy, SA, informed that the government has resolved its long-standing dispute with De Beers over an alleged large export of rough diamonds in 1994, prior to the transfer of the government to black rule.

“There has been a conclusion to the matter,” Nogxina told. “It is not an easy matter, it is a complex matter and we cannot provide a simple solution to a complex situation,” she added, but did not provide any details.

De Beers spokesman Tom Tweedy said, “As far as De Beers is concerned the matter is settled and resolved,” without elaborating further.

Some South African parliamentarians had even suggested imposing a 15 per cent export tax on larger-than-normal rough diamond shipments to London in 1994, a claim that De Beers has previously denied, adding that it did not receive any exemption from export duty.

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