After making representation on his “present financial position” and an inability to comply with the South African Revenue Service’ (SARS) R40 million assessment of his tax obligations, popular South African musician Nkosinathi “Black Coffee” Maphumulo is now only obligated to pay R8 million…

In a recent report, City Press cited legal papers submitted by Black Coffee to the Johannesburg High Court recently in which he said he had reached an agreement with SARS to dispose of his immovable properties to generate funds to pay the R8 million.

This was reportedly done to avoid the attachment of his properties.

Both SARS and Black Coffee’s representatives refused to comment on the matter to the publication.

However, the DJ stated that it was difficult to estimate an expected monthly income due to the ever-changing nature of his career.

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“Considering the nature of his business, it is impossible to predict or state his average monthly income due to the fact that it fluctuates substantially as a result of not only market forces, but also the seasonality of the industry.”

In 2017, Forbes magazine listed Black Coffee among Africa’s richest and “most bankable” artists.

Despite numerous reports, however, there is no official consensus on his actual net worth. It has been estimated to be in the multimillion-dollar range.

 

 

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Citizen reporter – Citizen

The post Black Coffee negotiates R40m Sars bill down to R8m appeared first on Citizen.

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