"I am shocked and disappointed because Boxing SA deducted tax from my purse money every time I fought"
BOXER Cassius Baloyi owes the South African Revenue Service about R400,000 in taxes.
The former six-time world champion in three different weight divisions told Sowetan he was informed by the taxman that he owed about R400,000.
"They said I did not return my IRP5 forms for the years 2005, 2006, 2007 and 2008," Baloyi said yesterday.
"I am shocked and disappointed because Boxing SA deducted 25 percent tax from my purse money every time I fought over these years.
"So I have always been under the false impression that I'm up to date with my taxes."
Baloyi said he did not get his IRP5 forms from BSA, which was supposed to issue them to the fighter as proof that his tax had been paid on his behalf.
"I discovered that I owed taxes when I tried to submit my IRP5 forms for the years 2009 and 2010," explained Baloyi, who fought twice in 2009 and once last year.
BSA, which came into being in 2002 after the disbandment of the interim SA National Boxing Commission, took it upon itself to pay tax on behalf of fighters.
"I went to BSA many times last year to demand my IRP5s and they said they could not find all of them. They only gave me two - for 2009 and 2010.
"I went back to Sars and told them about my dilemma. They advised me to go to the police and make an affidavit and bring it back to them.
"I drew up the affidavit at Yeoville police station but before I took it to Sars I decided to speak to my promoter Branco Milenkovic about the whole tax thing. Branco provided me with lawyers who are currently handling the matter."
Baloyi's lawyers sent a letter to Boxing SA chairperson Peter Ngatane on April 28 and requested a reply regarding Baloyi's tax issue within seven days. They have not received a reply.
However, Ngatane said yesterday: "I'm surprised that he says he did not receive his IRP5 forms and that he owes money. It is easy to blame BSA when the responsibility of your taxes lies with you as a professional ."
Baloyi owes R400,000 to the taxman
"I am shocked and disappointed because Boxing SA deducted tax from my purse money every time I fought"
BOXER Cassius Baloyi owes the South African Revenue Service about R400,000 in taxes.
The former six-time world champion in three different weight divisions told Sowetan he was informed by the taxman that he owed about R400,000.
"They said I did not return my IRP5 forms for the years 2005, 2006, 2007 and 2008," Baloyi said yesterday.
"I am shocked and disappointed because Boxing SA deducted 25 percent tax from my purse money every time I fought over these years.
"So I have always been under the false impression that I'm up to date with my taxes."
Baloyi said he did not get his IRP5 forms from BSA, which was supposed to issue them to the fighter as proof that his tax had been paid on his behalf.
"I discovered that I owed taxes when I tried to submit my IRP5 forms for the years 2009 and 2010," explained Baloyi, who fought twice in 2009 and once last year.
BSA, which came into being in 2002 after the disbandment of the interim SA National Boxing Commission, took it upon itself to pay tax on behalf of fighters.
"I went to BSA many times last year to demand my IRP5s and they said they could not find all of them. They only gave me two - for 2009 and 2010.
"I went back to Sars and told them about my dilemma. They advised me to go to the police and make an affidavit and bring it back to them.
"I drew up the affidavit at Yeoville police station but before I took it to Sars I decided to speak to my promoter Branco Milenkovic about the whole tax thing. Branco provided me with lawyers who are currently handling the matter."
Baloyi's lawyers sent a letter to Boxing SA chairperson Peter Ngatane on April 28 and requested a reply regarding Baloyi's tax issue within seven days. They have not received a reply.
However, Ngatane said yesterday: "I'm surprised that he says he did not receive his IRP5 forms and that he owes money. It is easy to blame BSA when the responsibility of your taxes lies with you as a professional ."
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