Reserve Bank has been ordered to pay Mark Shuttleworth R250-million.
Shuttleworth was unlawfully requested to pay about 10% of his assets R2.5-billion in order to be able to transfer them to another country.
The first South African man to go up to space moved to Isle of Man in the United Kingdom in 2001 and has been in a legal battle with South African Reserve Bank over the 10% exit tax which he argued was unlawful since it was not approved by the national legislation.
The legal battle which took place at the Supreme Courts of Appeals resulted in Shuttleworth getting his way.
Reserve Bank to pay Shuttleworth R250m
Reserve Bank has been ordered to pay Mark Shuttleworth R250-million.
Shuttleworth was unlawfully requested to pay about 10% of his assets R2.5-billion in order to be able to transfer them to another country.
The first South African man to go up to space moved to Isle of Man in the United Kingdom in 2001 and has been in a legal battle with South African Reserve Bank over the 10% exit tax which he argued was unlawful since it was not approved by the national legislation.
The legal battle which took place at the Supreme Courts of Appeals resulted in Shuttleworth getting his way.
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