The South African Revenue Service has conducted a wide-ranging confidential investigation into the second-hand gold industry and found what appears to be a staggering multibillion-rand tax fraud scheme.

Published on

3 February 2022

The scheme is immense in scale with just 2 companies claiming more than R24.4 billion between 2012 and March 2020 in allegedly fraudulent VAT refunds. The two companies appear to have scored illegitimate VAT refunds of over R8 billion in 2019 alone – roughly half a percent of SARS’ entire tax collection for the year.

Merentia Van Der Vent

Merentia joined the media world in 1996 and in 2001, she took her first steps in the broadcasting world. In her free time, she likes to go on adventures in the city. She also likes to learn new dances, not that she is any good at that.