Cash-strapped Denel plans to defer SARS payments
Denel have submitted an application to the South African Revenue Services (SARS) to defer their tax payments to the entity.
This follows a ruling by the North Gauteng High Court in Pretoria on Tuesday in which the struggling arms manufacturer was ordered to pay the outstanding unemployment insurance fund and tax deducted from empoyees' salaries.
READ: Denel ordered to pay salary deductions
Denel spokesperson, Pam Malinda, says the entity is planning to meet their contractual obligations to their employees despite the application to SARS.
"The board and the executive management are working hard to find long term answers for the current challenges facing Denel," says Malinda.
She adds the manufacturer remains confident that a long term solution will be found.
READ: More salary woes for Denel employees