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The Pretoria Magistrates’ Court has scheduled a pre-trial conference for businessman Krishna Chetty (66) and his employee Ravin Ramlall on 13 June 2024, regarding allegations of tax fraud and evasion amounting to over R43 million.
The charges stem from activities related to Chetty’s company, Counterpoint Trading 156 CC, and involve accusations of dishonest income declarations in violation of section 25 of the Tax Administration Act.
According to the National Prosecuting Authority (NPA), Chetty and Ramlall are accused of failing to honestly declare the income of their enterprise and thereby failing to comply with their statutory duty.
The NPA’s Investigating Directorate said that Ramlall had allegedly instructed a tax practitioner to misrepresent the income tax returns of Counterpoint Trading between 2018 and 2021, on behalf of Chetty, who is the sole director of the company.
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NPA spokesperson Henry Mamothame said the charges followed an investigation by the directorate, in collaboration with the SA Revenue Service (Sars) in terms of section 73 of the Prevention of Organised Crime Act, No 121 of 1998.
He said:
Mamothame said this trend continued into 2020, when Counterpoint Trading received over R18 million and only declared R1 million. A further amount of R1 million was declared by the company to Sars for an actual taxable income of R16 million received.
Chetty and Ramlall are currently out on R50 000 bail.
Meanwhile, the Hawks in Mpumalanga are looking for Jabulani Sishaba (57), director of Mangone Trading Enterprise, of Kabokweni area.
He is sought by the police elite unit’s Nelspruit-based Hawks’ serious commercial crime investigation team for fraud, theft or, alternatively, contravening the provisions of section 235 of the Tax Administration Act, No 28 of 2011 and section 6 of the Prevention of Organised Crime Act, No 121 of 1998, money laundering.
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It is alleged that, in April 2018, Sishaba colluded with his co-accused, Ndumiso Dlozi, also a director in the company, in submitting fraudulent tax refund claims on e-filing for the income tax period of 2014/15.
Hawks provincial spokesperson Dineo Sekgotodi said Sars had suffered an actual loss of R239 875.14 and would have suffered a potential loss of R 1 978 709.87 for the 2014/15 income tax period, had it not been for the diligence of the team.
She said:
Sekgotodi said the trio of Dlozi, Masuku and Zwane were arrested and later released on bail, and that Dlozi was released on R5 000 bail while Masuku and Zwane were each granted R2 000 bail.
Anyone with information can contact the investigating officer, Warrant Officer Dumisani Zwane, on 071 481 3491.
