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Island businessman wins South African case

by isleofman.com 2nd October 2014
Island-based businessman Mark Shuttleworth has won his case in South Africa over almost ?14 million he was forced to pay the South Africa Reserve Bank in exchange controls.

Mr Shuttleworth faced the 250 million Rand bill when he moved from the country to the Isle of Man under an exit levy.

But after battling it out in the courts, he’s now been told he can have his money back after arguing the levy was unlawful and partly unconstitutional.

In a statement on his website, Mr Shuttleworth says he’ll put the refunded money into a fund to help others who might not be able to afford to fight their cases do so.
Posted by isleofman.com
Thursday 2nd, October 2014 02:30pm.

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