Businessman released on warning after defrauding SARS almost R 5 Million
Masike Andrew Masike, a 71-year-old businessman, has been charged with defrauding the South African Revenue Service (SARS) of nearly R4.6 million. The charges, which also involve his company Ipokeng Properties and Estate Agents CC, relate to fraudulent submissions of value-added tax (VAT) returns between 2019 and 2021.
Investigations by the Directorate for Priority Crime Investigation (Hawks) revealed that Masike submitted VAT returns to SARS on behalf of his dormant company, resulting in SARS paying out R4.6 million. When requested to provide supporting documents for these returns, Masike allegedly failed to do so. This led to charges of fraud and contraventions of the Tax Administration Act against him.
Masike appeared in the Rustenburg Magistrate’s Court on 16 August 2024, where he was released on warning. His case has been postponed to September 16, 2024, for further proceedings.
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The North West Hawks and the National Prosecuting Authority (NPA) have commended the efforts of the investigators and prosecutors involved in the case for their diligence in bringing the matter to court.
This case highlights the ongoing challenges SARS faces in combating tax fraud and the importance of rigorous enforcement to protect public fund.