Gupta family liable for R105m bill after SARS uncovers false claims

Gupta family liable for R105m bill after SARS uncovers false claims

- A recent report notes that SARS has rejected the Gupta's infamous Sun City wedding as simply a 'business expense'

- The Revenue Service has since unearthed R105 million in payments that were also incorrectly claimed as business expenses

- The notorious family is now facing R80 million owed to the taxman as a result of these findings

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A report has surfaced detailing that the South African Revenue Service has approached Linkway Trading, one of the businesses implicated in money-laundering for the Gupta family, a number of letters regarding 'audit findings'.

The company has been informed that its assessments for income tax and VAT have seen some massive adjustments after the audit examined the situation.

SARS claims that Linkway had underdeclared taxable income by a staggering R197.5 million and falsely claimed R24.5 million in VAT.

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SARS commissioner Edward Kieswetter. Image: GCIS/ Flickr
Source: UGC

Considering interest and penalties, the company now owes SARS a staggering R80 million, reports News24.

The company was propelled to infamy after being used to pay for the Gupta family's 2013 Sun City wedding which was claimed as a 'business expense' and SARS has now acted on the matter.

The company has now been given 21 business days to challenge these findings and failing to do so would see the business forced to cough up the outstanding amount.

This grace period is set to expire soon and it remains uncertain whether any response from the business has been received, reports SowetanLIVE.

Earlier, Briefly.co.za reported that South African authorities must clamp down on the Gupta family, according to a message from across the world.

America has placed the Gupta family under sanctions thanks to the US Global Magnitsky Act, which deals with gross corruption and human rights violations.

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Ajay, Atul and Rajesh Gupta have been blacklisted, along with a South African associate, Salim Essa, after using political connections to 'line their pockets with ill-gotten gains'.

This is according to American Under Secretary of the Treasury for Terrorism and Financial Intelligence, Sigal Mandelker. In a statement issued to announce the sanctions, the politician revealed that US citizens are essentially barred from doing business with the family.

Mandelker commented that: "Treasury's designation targets the Guptas' pay-to-play political patronage, which was orchestrated at the expense of the South African people."

US Secretary of State Mike Pompeo noted the restrictions against the questionable tycoons, saying that:

"This action reaffirms the United States' commitment to support the rule of law and accountability in South Africa and globally."

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Source: Briefly.co.za

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