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Sars goes after alleged VBS looter who owes tax of R61m on 'illicit' income

3 August 2021 6:54 PM
Tags:
Corruption
SARS
The Money Show
Bruce Whitfield
VBS Mutual Bank
Insolvency
Pauli van Wyk
vbs
Insolvency Act
Danny Msiza
VBS Bank heist
vbs looting
Kabelo Matsepe
Tsakani Ngobeni
sequestration

Bruce Whitfield talks to investigative journo Pauli Van Wyk about the 'Al Capone' strategy Sars is using to net Kabelo Matsepe.

The South African Revenue Service (Sars) wants its cut of money flowing to and from Limpopo businessman and alleged VBS Mutual Bank fixer, Kabelo Matsepe.

Matsepe, along with his 13 co-accused, faces more than 180 charges including theft, fraud, money laundering, corruption and racketeering.

On Tuesday, the High Court in Pretoria provisionally granted the sequestration order against Matsepe requested by Sars.

RELATED: Pauli van Wyk: Alleged ringleaders of VBS looting caught

"Sars says it is owed R61 million in income tax and VAT for the 2015-to-2018 tax periods" writes Pauli van Wyk in the Daily Maverick.

This also includes non-declaration penalties and interest for non-payment.

Bruce Whitfield interviews the investigative journalist from Daily Maverick's Scorpio unit.

This relates to money laundering and alleged stolen funds. Kabelo Matsepe describes himself as a Limpopo businessman that is linked to the ANC.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

The first investigative report... back in 2018 described him rather as a front for Danny Msiza, the Limpopo leader in the ANC and also showed that he funneled R35 million out of VBS Mutual Bank (gratuitous payments) that he describes as 'commission'.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

Van Wyk notes that Daily Maverick was denied access to Tuesday's virtual hearing, which she says is in breach of certain sections of the Constitution.

It infringes on the rights of all people of South Africa to access of information and we will go to the courts and to the Chief Justice and to Sars with this in terms of a complaint.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

Matsepe was sort of the fixer between the municipalities and VBS Mutual Bank so Sars... asked the High Court to grant a provisional sequestration order so as to claw back the money that was owed to Sars in terms of tax because Kabelo Matsepe did not declare any of the tax that he owed.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

So whether they are legitimate commissions or not, unfortunately he's got a declaration problem with Sars!

Bruce Whitfield, The Money Show host

Sars' Criminal and Illicit Economy Activities division... told Matsepe in a letter dated November 2020 that his actions looked like tax evasion... and then said, because you did not answer us and because you made no objection to the assessments... these have now become final assessments and therefore we can see from your assets versus your liabilities that you will not be able to pay your tax and therefore we are going to ask for your sequestration.

Pauli van Wyk, Investigative journalist - Daily Maverick's Scorpio unit

Listen to van Wyk also detailing the progress of criminal proceedings against Matsepe:




3 August 2021 6:54 PM
Tags:
Corruption
SARS
The Money Show
Bruce Whitfield
VBS Mutual Bank
Insolvency
Pauli van Wyk
vbs
Insolvency Act
Danny Msiza
VBS Bank heist
vbs looting
Kabelo Matsepe
Tsakani Ngobeni
sequestration

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