Panday is facing 27 counts of fraud, alternatively contraventions of tax legislation which outlaw false returns
Before his recent arrest, Panday had been charged alongside eight others, including former KwaZulu-Natal police commissioner Mmamonnye Ngobeni.Durban businessman Thoshan Panday will remain behind bars after his arrest on tax fraud charges until his next court appearance.The 51-year-old is facing 27 counts of fraud, alternatively contraventions of tax legislation which outlaw false returns in respect of VAT and annual income tax.
“The state alleges that Panday was effectively in control of several entities which had received payments from the South African Police Services in an amount of approximately R47 million owing to a corrupt relationship with members of the Supply Chain Management Division of the Saps,” Mamothame saidMamothame said Panday now faces tax fraud charges as a result of the submission of tax returns in respect of the entities that he had controlled which allegedly received payments from the SAPS during...
“After the Investigating Directorate Against Corruption had extended its investigations into the tax compliance of the entities controlled by Panday, tax investigations conducted by Sars revealed that declarations made in the tax returns were false.” Mamothame added that it is alleged that Sars had suffered prejudice in the amount of approximately R 7.3 million as a result of these false tax declarations.
“To give effect to a whole-of-government approach by addressing financial crimes, including tax crime, cooperatively, Sars and the IDAC are collaborating to enhance voluntary tax compliance by making non-compliance hard and costly,” Mamothame said.Sars’ spotlight on crypto traders signals new era of accountability, say experts
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