An audit into 40 private companies throughout South Africa has revealed more than R80 million worth of tax fraud‚ the SA Revenue Service said on Thursday.
SARS Commissioner Tom Moyane on Thursday revealed a new strategy to combat non-compliance companies in “high-risk sectors”.
Moyane said that the “cash and carry industry” was identified as one of the high risk sectors SARS aimed to focus on.
“Over the last six months SARS’ risk processes have selected more than 40 companies operating in this space for audit. To date‚ full audits have been conducted on a number of these companies‚ and non-compliance to the value of R80 million discovered. They owe taxes ranging from R500 000 to R20 million‚” he said.
Moyane said that the money included withholding of VAT payments from cash sales‚ illegal repatriation of funds to global tax havens and fraudulent vat refund claims.
“Depending on the intention and severity of the non-compliance‚ SARS can impose stringent penalties of up to 200% on all taxes owed. In some cases tax payers will be charged or prosecuted‚” he said.
A wide range of methods was being used to detect non-compliance‚ including high-tech scans of import containers‚ verifications against third-party data‚ on-site audits and tip offs.
“By combining this information with industry expertise‚ it will be increasingly difficult for companies to operate without paying their fair share of taxes‚” Moyane stressed.
This announcement comes in the wake of 200 trained SARS volunteers being deployed at various border points to assist with tighter border control measures for both people and goods.
SARS spokesman Sandile Memela added that measures were in place to facilitate movement of people‚ vehicles and cargo and to prevent possible congestion as the increase in traveller movement. “We put the interests of all taxpayers first as we are a people-centred service organisation.
Memela said that most of the officials would be deployed at Beit Bridge and Lebombo borders as well as Maseru Bridge‚ Ficksburg and Qacha’s Nek border posts into Lesotho and Kopfontein and Ramabatlabama border posts in the North West Province.
The increased staff complement will be deployed from Friday till 10 January 2016.
Source: Tmg Digital | Dec 10, 2015 |
