Guptas receive R70-million VAT return from SARS – Report

The Gupta family received a R70-million VAT return from SARS this week, according to a report by the City Press.

The report stated that the payout caused a “huge fallout” at SARS and that the service’s head Tom Moyane was required to step in.

The payout – which was a benefit to Oakbay Investments – follows multiple reports on a cache of leaked emails which show the extent to which the Gupta family has “captured the state” and their beneficial relationship with President Jacob Zuma.

What made the payout contentious is that the Guptas reportedly asked for it to be paid into an overseas bank account or into the trust account of a lawyer.

The report stated that VAT refunds must normally be paid into the taxpayer’s local account.

SARS employees reportedly refused to pay the amount into an overseas bank account, while a legal consultant stated the money could not be sent to the account of a lawyer.

It was at this point that Moyane intervened and made sure the payment went to the Guptas, stated the report.

SARS declined to comment on the matter.

The VAT return comes after the Gupta’s finances have been the focus of public attention, including reports that the interim SABC board wants to scrap a deal between the broadcaster and Gupta-owned The New Age and ANN7.

Now read: Up to 200,000 more Gupta emails to be released

Latest news

Partner Content

Show comments

Recommended

Share this article
Guptas receive R70-million VAT return from SARS – Report