MaMkhize’s Properties Raided Amid SARS Tax Evasion Debt Close to R40 Million
The South African Revenue Services (SARS) made a decisive public statement in its fight against tax evasion and tax non-compliance by coming after business tycoon and Royal AM owner Shauwn Mkhize, popularly known as MaMkhize, and raiding her properties in an effort to recover the money she owes the taxman.
Owing R40 million in taxes, SARS acted on a search-and-seize warrant and a preservation order authorised by the KwaZulu-Natal Local Division of the Durban High Court and enlisted the help of authorities to raid MaMkhize’s premises in Durban as well as Royal AM FC’s football club house – the Royal Raunch – in Pietermaritzburg.
The intention of the raids was to preserve realisable assets (i.e. assets which can be readily turned into money) at the mansion as well as obtaining proof, through key documents, which could potentially link to MaMkhize’s non-compliance in paying the outstanding taxes she owes.
MaMkhize | SUPPLIED
“This decision is a crucial step in SARS’s strategic objective to make it increasingly hard and costly for taxpayers who willfully and intentionally engage in criminal activity. Over the past few years, SARS has been diligently investigating and cracking down on the construction industry so that it complies with tax laws,” said the statement by SARS.
Among the assets that were taken from the properties were high-end vehicles, which are now set to be auctioned to make a bit of money to pare down the hefty debt liked to the Shandi Trust, a family entity associated with Mkhize.
This is a developing story.