Thursday, October 8, 2015

NEW: Sars cracks R266m VAT swindle

Johannesburg - A fraudulent Value Added Tax (VAT) claim has been uncovered by the SA Revenue Service (Sars) to the tune of R266.2m, the tax authority said on Thursday.

The fraudulent claim had been made earlier this year by a group of individuals representing a registered company in South Africa, spokesperson Luther Lebelo said in a statement.





















"According to the company, they paid an amount of R266 230 423 to their employees and were seeking to claim this figure as a VAT refund. Suspecting fraudulent activities, Sars requested supporting documents. The documents confirmed that the refund was indeed fraudulent."


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