Chairman of Shoprite owes $245m in taxes

Lawyers are an important arsenal in the lives of any Rich business man. They help fight off greedy banks, negotiate tough payouts from greedy spouses and even help stave off greedy governments from sharing in the profits of the rich.

One thing they are not so good at doing though is figuring out figures. Especially in ways that will avoid it implicating those whom they seek to protect with their eloquence. Same is the case for South African Mogul Christo Wiese who has paid over $100m in tax liabilities to the South African Tax authorities and is set to pay another $100m. All these arose out of the good intentions of his lawyers who were hoping to help defend the $1m in cash that he was detained for whilst attempting to board a flight.

The lawyer unfortunately or fortunately said the money represented less than two weeks pay earned by Wiese in his bid to convince the courts that it was small change. Well, the SA authorities pounced on that as it represented more than what can be kept in tax havens, a scheme most billionaires use to avoid taxes. Now that small change has caused him over $200m in taxes he must pay.