It’s good news for the country as investigations by SARS into coal theft break R500-milion smuggling ring. Picture: File/Fotor.
R500-million dent made by SARS into coal THEFT ring
It’s great news for the country as investigations by SARS into coal theft break open a R500-milion smuggling ring.
It’s good news for the country as investigations by SARS into coal theft break R500-milion smuggling ring. Picture: File/Fotor.
Investigations by SARS into coal theft have broken a national smuggling ring that has significantly worsened load-shedding in SA. Announced earlier today in a statement by the South African Revenue Service (SARS), Business Tech reports an inter-governmental operation has broken a major syndicate.
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“The success of today’s operation is due to exceptional inter-governmental co-operation and information-sharing under the auspices of the NATJOINTS Energy Safety & Security Priority Committee tasked with unmasking and bringing to book the criminals that have caused economic hardship and personal hardship to all citizens of the country,” said SARS in its statement.
SARS INTO COAL THEFT
The investigation by SARS into coal theft helped prevent revenue loss of approximately R500 million. Coal smugglers were implicated in Gauteng, Mpumalanga, KwaZulu-Natal, Limpopo and the Free State. It is understood that suspects included former Eskom employees who facilitated procurement of stolen coal.
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During investigation by SARS into coal theft, the revenue service drew connections to certain individuals through tax contraventions. From a tax perspective, these individuals failed to submit tax returns, they under-declared their income, and more …
SOPHISTICATED COAL SMUGGLERS
“The sophisticated network of coal smugglers consisted of locals and foreign nationals. Coal trucks destined for power stations were diverted to designated coal yards where high-grade coal was replaced with low-grade or sub-standard product,” SARS said.
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“The high-grade coal is then exported or sold to willing buyers. The low-grade coal is often blended with scrap or other materials and then delivered to South African power stations. It is because of such naked greed that the country has experienced unprecedented load shedding. This harmed business, undermined foreign investment, and led to job losses,” said SARS Commissioner Edward Kieswetter.
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