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213 cases of suspected tax evasion

Fri, 7 April 2017 14:35
by Rodney Pienaar

The fi nance ministry is currently investigation 213 cases of suspected tax evasions by corporate companies. According to the Commissioner of Inland Revenue Justus Mwafongwe cases of suspected tax evasion have increased.

 “We cannot give you the names of the corporate companies that are suspected of tax evasion as well as how much money is involved with regards to tax evasion as the cases are still being investigated,” Mwafongwe said. He further noted that after investigations are done, they will take further steps to bring companies found guilty of tax evasion.

The Villager understands that there are serious laws in place and once investigations are done the state will with the order form court will seize assets of the companies that are currently under investigation. Tax evasion is a serious crime as it affects the economy if the country and hiders development. Mwafongwe explained that cases that were detected involved large corporates, individuals and close corporations. “In all cases these are persons who commit these irregularities either acting for themselves or on behalf of companies whether as employees, owner’s directors or representatives,” Mwafongwe said.

The Villager learnt that investigations shows that major transgression include; withholding employees tax (PAYE) and charged Value Added Tax (VAT); under declaration or non disclosure of income; overstating expenses; manipulation of inter –company transactions, transfer pricing and Thin Capitalization; fraudulent claiming of tax refund and failure to register for tax purposes.

Director of Small and Medium Enterprise’s (SMEs) Compete, Danny Meyers believes that compliance with statutory obligations related to conducting business is not only a legal requirement, but it is the right thing to do.

“It is the responsibility of every entrepreneur and business entity, irrespective of the size of an enterprise or its location, be it Namibian-owned or under foreign ownership, to adhere to the laws of the land. “There must be no deviation and it is responsibility of those who select to conduct business, to treat this obligation with the seriousness it deserves. In summary, to abide by the laws as it pertains to taxation, employment of labour, social security commission and workmen’s compensation compliance, among others.

At a local level, comply with municipal by-laws and especially the ones related to trading hours, noise disturbance and pollution or disposal of waste,” Meyer said. He also added that, “The state must follow-up with regular training activity all over the country. Not only done when a trade fair or expo is held in a town, but routinely during the course of a year.”