Sars said Bullion Star is a gold refinery and registered exporter, and had facilities to transform minerals into a higher-value product which can be sold locally or exported.
For February 2022, the VAT return submitted by Bullion Star reflected a refund claim of R13.9m.
“Prior to the end of January 2022, Bullion Star rarely exported any goods, but during February 2022, it exported unwrought gold in excess of R126m.”
Sars said this deviation caused Bullion Star to be selected for an audit of its tax affairs, and the search warrant was executed to obtain information pertaining to the goods sold and exported by Bullion Star.
The warrant was executed at three premises.
However, Bullion Star refused Sars access to its business premises and vehicles on its premises.
“Security video footage revealed goods were removed from the business premises and placed into vehicles on its premises prior to Sars gaining access to the property.”
Sars said with the assistance of police and the Hawks, Sars seized relevant evidence from the vehicles.
“The occupants of the residential property of Bullion Star’s director also refused Sars access to the residential property and to provide Sars with electronic equipment.”
Sars obtained assistance from police to gain access to the premises and seized goods from the premises.
Sars commissioner Edward Kieswette emphasised the organisation’s and broader government’s commitment to combatting illicit trade and criminal economic activities.
“Those who systematically and deliberately set out to deprive what is due to the fiscus through fraudulent and other non-compliant activities will be confronted and dealt with in terms of the law,” Kieswetter said.
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
Sars warns tax dodgers as it carries out search and seizure operation at gold refinery
Image: Freddy Mavunda
The SA Revenue Service (Sars) this week carried out search and seizure operations related to investigations into illicit financial flows and illicit trade in gold, alcohol, clothing, cigarettes and tobacco products.
Sars said these operations were conducted on entities in the banking sector, tobacco and cigarette sector and alcohol, gold and clothing industries in KwaZulu-Natal, Western Cape and Gauteng.
It said the premises inspected and searched included houses of individual taxpayers and gold industry and banking employees.
“These interventions were initiated after potential discrepancies were identified in customs declarations and tax returns related to such entities as well as bank statements which could not be relied on.”
In one of the targeted entities, Sars said it obtained an order in the Pretoria high court on Monday for search and seizure of the premises of Bullion Star (Pty) Ltd.
Fool’s gold: why it’s anchors aweigh for Russia’s bullion
Sars said Bullion Star is a gold refinery and registered exporter, and had facilities to transform minerals into a higher-value product which can be sold locally or exported.
For February 2022, the VAT return submitted by Bullion Star reflected a refund claim of R13.9m.
“Prior to the end of January 2022, Bullion Star rarely exported any goods, but during February 2022, it exported unwrought gold in excess of R126m.”
Sars said this deviation caused Bullion Star to be selected for an audit of its tax affairs, and the search warrant was executed to obtain information pertaining to the goods sold and exported by Bullion Star.
The warrant was executed at three premises.
However, Bullion Star refused Sars access to its business premises and vehicles on its premises.
“Security video footage revealed goods were removed from the business premises and placed into vehicles on its premises prior to Sars gaining access to the property.”
Sars said with the assistance of police and the Hawks, Sars seized relevant evidence from the vehicles.
“The occupants of the residential property of Bullion Star’s director also refused Sars access to the residential property and to provide Sars with electronic equipment.”
Sars obtained assistance from police to gain access to the premises and seized goods from the premises.
Sars commissioner Edward Kieswette emphasised the organisation’s and broader government’s commitment to combatting illicit trade and criminal economic activities.
“Those who systematically and deliberately set out to deprive what is due to the fiscus through fraudulent and other non-compliant activities will be confronted and dealt with in terms of the law,” Kieswetter said.
TimesLIVE
Support independent journalism by subscribing to the Sunday Times. Just R20 for the first month.
READ MORE:
Sars is taking the wind out of criminals and tax dodgers' sails: Ramaphosa
How we nailed tax dodgers for billions- Sars boss Edward Kieswetter
Sars cleans up, netting billions as it shuts down tax dodges
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Most read
Latest Videos