SARS unearths retail sales software fraud

keru

Well-Known Member
Joined
Aug 6, 2003
Messages
466
During the unveiling of the 2010-2011 fiscal revenue results, SARS identified specialised retail software used by tax dodgers

The South African Revenue Services (SARS) has identified specialised tax evasion software used by retailers, hampering revenue collection.

SARS commissioner Oupa Magashula made reference to the software during the announcement of tax revenue collected during the 2010-2011 financial year.

"There is a new type of non compliance software emerging on the retail side. The use of retail suppression software is a type of scheme people use by understating their sales so that they don’t pay as much VAT as they are supposed to," he said.

Magashula warned that SARS are identifying culprits and closing in on those guilty of these sorts of schemes.

"We know there are even people that are employed full time to create this software. It is a big industry and we will next week make a pronouncement on this," he said.

Source: http://www.businessday.co.za/articles/Content.aspx?id=138988


Wonder who is developing this software ?
 

HavocXphere

Honorary Master
Joined
Oct 19, 2007
Messages
33,156
Always amazes me that people will risk an entire retail operation to save a few bucks. SARS has some serious firepower available for tax evasion cases...usually they don't use it but piss them off and see what happens...
 
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