Since Al Capone’s conviction, the great truism of gangsterism is that you can escape the police, the press and the public, but what gets you is the taxman.
Ever since Al Capone’s conviction, the great truism of gangsterism is that you can escape the police, the press and the public, but what gets you in the end is the taxman. I have always wondered whether this is true, and if so why? It’s worth recalling a couple of things about the Al Capone case which have been lost in the mists of time.
The pictures of the killing were so brutal and so grotesque that the US national government was called in. The tax case eventually brought against Capone was extremely weak and was largely based on Capone’s admissions after he tried to get his tax affairs in order. The biggest and most ambitious project so far at SARS came to light recently when the revenue service quietly lodged two damages claims in December in the Gauteng Division of the High Court in Pretoria against Sasfin Bank, one for R1.97-billion, involving 18 named companies, and another for R2.9-billion, involvingThis is an enormous claim, and legally speaking, it is potentially very significant. Despite SARS’ superpowers, it is being brought as a civil case.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SARS slaps Sasfin with 'unprecedented' R4.9bn damages claim over dodgy clientsSARS slaps Sasfin with 'unprecedented' R4.9bn damages claim over dodgy clients
Read more »
Sasfin Bank Faces Civil Summons for Tax Evasion AllegationsSasfin Bank is being sued by the tax authorities for failing to pay taxes owed by former foreign exchange clients. The bank denies the allegations and claims that the clients operated as a syndicate and colluded with its former employees to launder money. A documentary by Al Jazeera revealed the involvement of Sasfin Bank staff and employees of other banks in a gold smuggling syndicate.
Read more »
Gold Leaf Tobacco: SARS claims billions from Sasfin in Rudland money laundering debacleSars alleges that at least R8.2-billion in untaxed funds, linked to Gold Leaf Tobacco, were unlawfully sneaked out of the country over the past decade.
Read more »
Sasfin’s existential can of worms and the risk to other banksThe SA Revenue Service confirmed last week that it is suing Sasfin Bank for just shy of R5bn – more than half the bank’s balance sheet. The claim stems from billions channelled offshore via the bank by a coterie of alleged money launderers. A few other banks should be worried too.
Read more »
After the Bell: It’s not just cadre deployment; it’s the cadres you deploySo, what then do we make of the ANC’s claim that cadre deployment is completely normal and even practised by opposition parties when they get into power, like the DA?
Read more »
After the Bell: Why was Treasury so coy about a German report on Eskom’s power fleet?Sometime in the next week, the Treasury will release a report conducted by a group of German consultants called VGBE Energy on SA’s fleet of power stations.
Read more »