CARMEL RICKARD: Disclosure programme may be a bitter pill
A R537m VAT fraud shows the possible pitfalls of Sars’s voluntary disclosure programme. But a decision in favour of the company has been decided by such a narrow margin that an appeal to the Constitutional Court may be in the offing
16 March 2023 - 05:00
In 2004, accountant Hildegard Steenkamp, who worked for medical technology company Medtronic International (MI), began what the Supreme Court of Appeal has called “fraud of ... breathtaking proportions”.
Steenkamp scammed “a whopping ... R537,236,176” by submitting false VAT returns to the SA Revenue Service (Sars) and then applying for reimbursements from the tax authority to conceal her embezzlement...
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