RE­PORT TO SARS

CityPress - - Business -

If you sus­pect an in­di­vid­ual or com­pany of trad­ing il­le­gally, you can help to com­bat fraud by sub­mit­ting their de­tails to the SA Rev­enue Ser­vice (Sars). Many schemes are very care­ful to op­er­ate out­side the juris­dic­tion of the var­i­ous reg­u­la­tors, mak­ing it dif­fi­cult to find re­dress.

How­ever, it is more chal­leng­ing for them to cir­cum­vent the long arm of the tax­man, as was demon­strated in the in­fa­mous story of the 1920s US gang­ster Al Capone, who ended up in jail due to tax eva­sion.

If an in­di­vid­ual or com­pany is ac­cept­ing pub­lic money and promis­ing prof­its, they have to be reg­is­tered with Sars and pay taxes.

As Sars is bound by tax­payer con­fi­den­tial­ity clauses in the Tax Ad­min­is­tra­tion Act, it can­not pro­vide you with in­for­ma­tion on the com­pany or in­di­vid­ual, but it can in­ves­ti­gate any al­leged sus­pi­cious ac­tiv­ity to de­ter­mine whether fraud is oc­cur­ring.

You can con­tact the Anti-Cor­rup­tion and Fraud Hot­line on 0800 00 2870 or com­plete the on­line sus­pi­cious ac­tiv­ity re­port form on the Sars web­site at sarse­fil­ing.co.za.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.