Naidoo was addressing the standing committee on finance, with members of the Hawks and representatives of the National Treasury, the SA Institute of Chartered Accounts and the National Prosecuting Authority (NPA), among others, in attendance.
A forensic report by advocate Terry Motau SC found several individuals, including former executives of VBS and people with political connections, received hundreds of millions of rand from the bank, and that almost R2 billion was looted from it.
Naidoo said the Reserve Bank wanted those implicated to declare on their tax returns what they received from VBS, and Sars would take up the matter after the report was submitted to it. “If people claim they provided a service, they must pay income tax,” said Naidoo.
The National Treasury said it was the task of the Reserve Bank’s Prudential Authority to regulate the affairs of banks.