By STAFF REPORTER
Fraud and tax evasion against a businessman, Krishna Chetty (66) and his employee, Ravin Ramlall, has been postponed by the Pretoria Magistrate’s Court to 13 June 202, for pre-trial conferencing. They are facing charges of fraud and tax evasion relating to his company income tax amounting to over R43 million.
The Investigating Directorate spokesperson, Henry Mamothame said Chetty and Ramlall are facing charges of fraud in that they failed to honestly declare the income of Counterpoint Trading 156 CC. He said thereby failed to comply with the statutory duty imposed by Section 25 of the Tax Administration Act.
“Ramlall allegedly instructed a tax practitioner to misrepresent the company income tax returns of Counterpoint Trading 156 CC between 2018 until 2021, on behalf of Chetty, who is the sole director.
“Their court appearance follows an investigation by the Investigating Directorate (ID) in collaboration with the South African Revenue Service (SARS) in terms of Section 73 of the Prevention of Organised Crime Act no. 121 of 1998,” said Mamothame.
He further said during the period 2018 to 2021, the company received various amounts of money from different business sources. Mamothame added that, in 2018, Counterpoint Trading 156 CC, received taxable income of R26 million, to which it only declared R1 million to SARS.
“The company received an amount of R10 million in 2019, and only declared R1 million. The trend continued in 2020, to which Counterpoint Trading 156 CC received over R18 million and only declared R1 million.
“A further amount of R1 million was declared by the company to SARS for an actual taxable income of R16 million received. The two are out on R50 000 bail and they are expected back in court in June when the matter resumes,” he said.
TaungDailyNews 