Staff Reporter.
Members of the South African Revenue Service (SARS) and the South African Police Service (SAPS) conducted a raid on an unauthorised warehouse in Vryburg, North-West on 4 May 2023.
The two authorities confiscated millions of rands worth of illegally manufactured alcohol and bitcoin mining equipment.
The bitcoin mining equipment is valued at around R10 million while the alcohol is estimated at R3.8 million.
The warehouse was well equipped with state-of-the-art equipment to enable those involved to carry out their criminal activities. One foreign national was arrested. An investigation is underway and more arrests are expected.
SARS Commissioner, Edward Kieswetter, praised the ongoing cooperation between SARS and SAPS in apprehending those who are bent on perpetrating criminality.
He said the raid formed part of SARS’ decision to act more vigilantly against unregistered taxpayers conducting business and to protect legitimate businesses.
“The abuse of duty-free labels to circumvent payable duties and other criminal undertakings found at this warehouse undermines our economy and will be confronted and met with the full might of the law, “Kieswetter said.
The taxman has set its sights on ensuring strict compliance and has taken a concerted effort to crackdown on crypto assets.
SARS is currently tracking crypto assets through wide collection powers granted under the Income Tax Act, including a requirement for third-party service.