We know of the R7.8 million the National Treasury decided Mr President must pay back for the Nkandla upgrades. The Democratic Alliance (DA) has out-mapped another R63.9M Zuma should pay South Africa.
DA said the mere R 7.8-million the President was asked to repay isn’t the end of Nkandla scandal.
The party divulged that it’s set to pursue another avenue which will make Zuma pay extra R63.9M.
According to the opposition party, that, will be done to ensure the President pays the full tax due by him on the fringe benefits that he accrued in the Nkandla scandal.
DA said they are simply seeking to uphold the ‘nobody-is-above-the-law’ principle. President Jacob Zuma, in the eyes of the law, is an ordinary man, and must be treated as such. DA asserted.
With that, it tabled that the Minister of Finance once said – “all South Africans pay tax on their income and fringe benefits, be the person the President or an ordinary worker.”
As such, the party justified that Zuma is liable by law to pay any tax benefits he amassed from his Nkandla homestead.
“On studying and evaluating the full list of upgrades, we found that the total taxable Fringe Benefit amounted to R 145,185,235. Taxed at the applicable marginal rate of 40% would amount to R 58,074,094. When this is added to 10% penalty for late payment of R 5,807,409. We arrive at the total payable figure of R 63,881,503,” DA stated.
“That’s not the end of it. In addition to this amount there would be interest payable from the date that the tax became due and payable.
President Zuma must at once pay the tax that is due, and pay it personally. South Africans cannot continue to suffer while Jacob Zuma has lined his pockets with public money destined for the advancement of our country,” added the DA leader.