Share

95 years for VAT fraudsters

Pretoria – Three men, accused of fraudulently claiming value added tax (VAT) refunds to the value of approximately R300m, were sentenced in the Gauteng South High Court on Wednesday to a total of 95 years imprisonment.

It involved 25 years for fraud; 25 years for uttering (the passing or making use of a forged writing or document with knowledge of its forged nature); 25 years for forgery; and 20 years for money laundering. The sentences will run concurrently. This means that each of the accused will spend 25 years in prison.

READ: VAT fraudster's R250m loot could've fed 714 000 kids for a month

The VAT fraud, as well as other criminal activity, took place under the pretext that electronic equipment was being imported from the US and then exported again. This practice was used in 18 different companies, where the accused were directors, to elicit approximately R300m in VAT refunds from the SA Revenue Service (SARS).
 
The accused, Anton Meyer, Garth Coetser and Clifford Stevens, were charged with fraud and contravening the Value Added Tax Act.
 
According to SARS this successful prosecution demonstrates that it has the skills, experience and determination to effectively detect non-compliance by taxpayers and ensure such perpetrators face the full might of the law.

SARS said it should serve as a strong warning to anyone who attempts to avoid tax obligations through irregular means.

SUBSCRIBE FOR FREE UPDATE: Get Fin24's top morning business news and opinions in your inbox.

Read Fin24's top stories trending on Twitter:

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.98
-0.2%
Rand - Pound
24.06
+0.2%
Rand - Euro
20.58
+0.1%
Rand - Aus dollar
12.35
+0.6%
Rand - Yen
0.13
+0.7%
Platinum
902.95
+0.1%
Palladium
998.75
-0.7%
Gold
2,153.35
-0.3%
Silver
24.91
-0.6%
Brent Crude
86.89
+1.8%
Top 40
65,825
-0.6%
All Share
72,043
-0.5%
Resource 10
53,031
-0.5%
Industrial 25
99,434
-1.0%
Financial 15
16,625
+0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders