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South Africa:How Guptas Were Illegally Paid Over U.S.$31 Million in VAT Refunds

[Daily Maverick] SARS illegally paid at least R420-million in tax refunds claimed by the Gupta companies into an attorneys trust account, to a shelf company and a shady businessman who was once involved in business with Tom Moyane's nephew. This came at a time when Bank of Baroda was reducing its Gupta exposure because they could no longer hide, nor stomach, the Guptas' money laundering activities. The scheme contravened the very laws SARS must administer. It is a crime of VAT fraud and money laundering directed by Oakbay...

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Published By: Allafrica - Wednesday, 8 August