A Bethlehem-based businessman and his company, Cybko Trading CC, was found guilty of tax evasion and has been ordered to repay R1,415 million to the South African Revenue Service (Sars).
The Bethlehem Commercial Crime Court also imposed additional suspended sentences on Nkosana Nhlanhla Sibeko (42) at a hearing on 13 May. These sentences pertain to the contravention of the Tax Administration Act.
Sibeko will serve eight years, suspended for five years on the condition he repays Sars R925 000 in full in yearly instalments of R185 000.
The company was fined R2 million suspended for five years on the same condition that it repays R490 000 in full in monthly instalments of R8 000.
This hefty punishment is the culmination of an investigation by the Bethlehem-based Hawks’ Serious Commercial Crime Investigation team, conducted since 2020.
Capt. Christopher Singo, provincial spokesperson for the Hawks, said Sars had reported the matter after uncovering fraudulent activities by both the company and the owner worth more than R1,4 million.
He stated that fraud had been committed between 2012 and 2015.
Singo said failure to comply with the court order would have severe repercussions.
Sars could apply to obtain a civil judgement and writ of execution to attach assets of both the company and Sibeko to recover the R1,415 million.
