Durban – A 59-year-old man found guilty of defrauding the South African Revenue Service (Sars) of more than a million rand has been ordered to pay back every cent.
Loyiso Ntaba was found guilty of tax fraud by the Mthatha Specialised Commercial Crime Court this week.
According to the Hawks in the Eastern Cape, Ntaba, the sole director of the company Coalition Trading, committed the fraud over four years.
“During the period from June 2012 to August 2016, Ntaba contravened the provisions of the Tax Administration Act by failing to submit South African Revenue Services VAT returns,” said Hawks spokesperson Captain Yolisa Mgolodela.
“Sars lodged a complaint with the Mthatha-based Serious Commercial Crime Investigation unit of the Hawks.
“Investigations revealed that Sars had suffered a loss of more than R1.4 million.”
Mgolodela said Ntaba was arrested on November 10, 2020 and released on a warning to appear in court.
“Ntaba made several appearances before the Mthatha Specialised Commercial Crime Court until his conviction and sentencing on May 31, 2023.”
Mgolodela said Ntaba was sentenced to five years’ imprisonment which was suspended on condition that he did not commit the same crime again.
“He was further instructed to pay R100 000 to Sars on October 1, 2023.
“He is also expected to pay R10 000 to Sars monthly until the prejudiced amount is fully paid.”
IOL