VAT FRAUD

 

SARS release 17 August 2017:

95 years for VAT fraudsters: Three men, accused of fraudulently claiming Value Added Tax refunds to the value of approximately R300 million, were sentenced in the Gauteng South High Court on Wednesday, 16 August 2017  to a total of 95 years imprisonment—25 years for Fraud, 25 years for Uttering, 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. The VAT fraud, as well as other criminal activity, took place under the pretext that electronic equipment was being imported from the United States of America and then exported again. This practice was used in 18 different companies, where the accused were directors, to elicit approximately R300 million in VAT refunds from the South African Revenue Service (SARS). The accused, Mr Anton Meyer, Mr Garth Coetser and Mr Clifford Stevens, were charged with fraud and contravening section 59 of the Value Added Tax Act no 89 of 1991. The accused were successfully indicted on several counts of fraud, forgery, uttering and money laundering in terms of section 4(b)(i) of Act 121 of 1998

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