SARS (South African Revenue Services) has confirmed 81 out of 1700 South Africans in the Panama Papers with links to 79 offshore accounts.
702's John Robbie spoke to Vlok Symington, who is the SARS Executive of Product Oversight, Legal and Policy Division, who explained the current state of their investigation based on the information they have gathered so far.
Symingotn urged these people to come forward immediately to sign a voluntary disclosure agreement.
Listen to the interview below:
It is the end result of these offshore companies that allow our residents to avoid and evade South African tax liability.— Vlok Symington, SARS executive
We have started to match the 1700 names with our database. At the moment, we have confirmed 81 names and we were able to link them to 79 offshore accounts.— Vlok Symington, SARS executive
We have the names of the intermediaries who helped them assist set up the accounts...The next step is to give them an oportunity to explain themselves.— Vlok Symington, SARS executive