Shuttleworth targeted wrong entity - Reserve bank

The SARB's Alexander Ellis says in an affidavit filed in the Constitutional Court that Shuttleworth cited the wrong respondent in the first instance. He should have taken on the Minister of Finance, Ellis argues. According to Ellis, the SARB delivered only an administrative function when it enforced a decision announced by the Minister in his Budget speech in 2003. Shuttleworth had to pay an exit levy of 10% when he withdrew funds from SA. The SCA agreed with Shuttleworth that the exit levy constituted 'tax and levies'. But Ellis says not all income paid to the fiscus is necessarily a tax. 'Someone who pays the exit levy gets a benefit for it - the right to take the money out of the country. The main aim of the exit levy is not to generate income for the fiscus, but to discourage emigrants to take large amounts out of the country.' Shuttleworth has yet to respond to the application. Full Beeld report (subscription needed)