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JOHANNESBURG –  Sishen Iron Ore Company has been slapped with a R1 billion bill by SARS.

But it plans to dispute the bill for the 2011 tax year.

Kumba received a R5 billion tax claim in February, including R3.7-billion in interest charges and penalties.

This follows an audit of subsidiary Sishen Iron Ore Company, for the years 2006 to 2010. 

The company says it disagrees with the audit findings and will respond to the letter within the prescribed period.

Kumba CEO Themba Mkhwanazi insists the company and its subsidiaries have complied with all applicable tax laws.

– eNCA