How trade cheats have cost SA $25bn


How trade cheats have cost SA $25bn

Banks can't staunch the outflow. Ongoing investigations uncover acts of fraud and corruption, SARS losing tens of millions in undeclared revenues.

Noble Resources SA (Pty) Ltd - based in Stellenbosch - knowingly defrauded SARS by under-invoicing its parent Swiss-based company. This little double-deal shows just how easy it sometimes is to out-manouvre the tax authorites.

Like to see more ?


Subscribe to our on-line edition !

For a mere R298.00 per year you get the convenience of our online version including:
  • Twelve monthly issues of Noseweek delivered to your browser
  • A searchable archive
  • Access to every back issue since 1993 !
  • A downloadable PDF version

If it’s just the article you are after, you can purchase it by clicking here.

Tempted ?


For a taste of what awaits you, you are welcome to browse this free issue.

Share this article:

 or .....


Sharing is caring

Reader's comments

Like to add your own comment ? Please click here to subscribe - OR -
 
Submitted by : Jaco on 2010-05-30 18:14:45
Now that Noseweek has opened SARS' eyes to this scam, what is our Receiver of Revenue going to do about Noble Resources SA and other multinationals that are robbing us dry?

Editor's Note
Could be SARS is too incapacitated to do anything about these Corporations that issue their Financial Statements in $s, £s and €s...

Disclaimer

While every reasonable effort is taken to ensure the accuracy and soundness of the contents of this publication, neither the authors nor the publishers of this website bear any responsibility for the consequences of any actions based on the information contained therein.