R295m tax, money laundering trial postponed

THE trial of three suspects accused of fraud, value added tax (VAT) evasion and money laundering worth more than R295 million was postponed.

This comes as Saravan Devraj Govender, Vikash Mohan and Kairos Holdings, a private company, appeared at the Commercial Crime Court on Monday.

Kairos Holdings was incorporated with Govender listed as the sole director while the company registered with the SA Revenue Service (Sars) as a tax vendor with Govender nominated as the representative vendor.

Mohan was listed as the bookkeeper of Kairos Holdings in the application-registration as a value tax vendor.

According to the charge sheet, Mohan submitted tax returns on behalf of Kairos Holdings to Sars for a period between October 2011 to April 2012.

A refund was then allegedly claimed on each value-added tax return submitted. It further stated that the refunds were deposited into the bank account of the company, of which Govender was the sole signatory.

“An audit conducted on value added tax returns by the Kairos Holdings showed that the goods for input tax claimed, were not acquired by the company wholly for the purpose of moving taxable supplies.

“No supply of goods and services took place for the company. Kairos Holdings carried out transactions, operations, schemes or understanding to obtain an underdone tax benefit,” read the charge sheet.

It further stated that the returns which were submitted were reduced to nil.

The State argued that Sars suffered prejudice as a result of the action.

“Unfortunately an intent to defraud/ misrepresent to the commission of Sars in tax returns submitted, Mohan assisted by Govender submitted VAT returns on behalf of Kairos Holdings that was overstated in the amount generating return with the company not entitled,” states the charge sheet.

Mohan was charged with fraud and VAT evasion while Govender and Kairos are facing money laundering charges. The matter was postponed to August 22.