South Africa

Customs menace: Tax dodgers have robbed SA of R550bn

21 November 2018 - 08:00 By Graeme Hosken
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Its report says that from 2010 to 2014 the economy lost on average an estimated $7.4bn (R111bn) annually through misinvoicing
Its report says that from 2010 to 2014 the economy lost on average an estimated $7.4bn (R111bn) annually through misinvoicing
Image: iStock

An international financial monitoring organisation has revealed how tax dodgers robbed the SA economy of an estimated $37bn (R550bn).

Its report says that from 2010 to 2014 the economy lost on average an estimated $7.4bn (R111bn) annually through misinvoicing – a form of tax fraud which, according to a tax lawyer, the taxman has been battling for years to clamp down on.

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