DJ Sbu Faces Impending Financial Ruin Over Massive Tax Debt
In this uncertain world, where nothing is set in stone except for death and taxes, our beloved South African celebrities are facing a harsh reality check.
Word on the street is that the renowned rapper Khuli Chana is in deep trouble with South Africa’s tax authorities, owing them an astonishing amount of just over a million rand in unpaid taxes.
But hold on, that’s not all! According to a recent report by City Press, Khuli Chana isn’t the only music legend playing a game of hide and seek with the South African Revenue Service (SARS).
SARS Goes After DJ Sbu Over Tax Debt
Sbusiso Leope, famously known as DJ Sbu, is on the verge of financial disaster as SARS demands a hefty R2 million in outstanding taxes from him.
In a final ultimatum issued by SARS on July 14, this acclaimed radio presenter, record producer, and entrepreneur faces the grim possibility of losing his assets to settle the debt.
DJ Sbu’s umbrella entity, Blaque Gemini, must come up with the outstanding tax bill of R1,900,668 within ten business days, or else his assets will go under the hammer to cover the debt.
SARS has given him the option to pay the outstanding tax bill in instalments.
DJ Sbu Admitted He Is Broke
Back in April of this year, DJ Sbu openly admitted that he was broke, and the demand from SARS could plunge him further into financial ruin.
A video of DJ Sbu went viral in April, where he expressed his willingness to return to the SABC if offered a fair deal. This left many people puzzled as to why Sbu would want to go back to the public broadcasting company after fighting them for years, leading to speculations about his financial state.
In another clip, DJ Sbu confessed that he had squandered his wealth. He revealed in the video that he had scaled down his extravagant lifestyle because he could no longer afford it.
“When it comes to finances I would like to say what I have learned is that Ngiwile mina out’yami. I’ve got myself to blame, nobody else,” said DJ Sbu.