Spar’s VAT scandal: Unpacking the BDO investigation and corporate fallout

Business Day journalist Nompilo Zulu unpacks allegations of VAT fraud and accounting irregularities at Spar’s Bloed Street Tops store, after a BDO due-diligence report flagged unreliable financials, alleged tax underdeclarations and stock-related concerns. Spar strongly disputes the claims, saying the matter relates to one store and follows a failed bid by businessman Amaan Sayed to rejoin the Spar network. With complaints now before regulators including the JSE, Saica and CIPC, Zulu explains what the report found, how Spar has responded, and what could come next.