The SA Revenue Service (Sars) says it has reasonable grounds to believe the fiscus is suffering “severe financial prejudice” due to the illegal smelting of Krugerrands into gold bars.
The tax authority told the high court in Pretoria in its VAT dispute with Kusasa Refining, a company that buys, sells and refines precious metals, that it suspects tax graft is rife in the second-hand gold industry, which also features the so-called zama zamas...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.