ActionSA demands answers from SARS and SARB on Ramaphosa millions
6 June 2022
Today I have written to the Governor of the Reserve Bank, Lesetja Kganyago, and the Commissioner of SARS, Edward Kieswetter, in respect of the revelations relating to the theft or $4 million from President Ramaphosa’s Phala Phala game farm in Limpopo.
South Africans have had to come to terms with this news which would seem to indicate the breaking of a number of laws which exist to prevent money laundering in our country.
My letters to the SARB Governor specifically pose a number of questions, key amongst which was whether any declarations or documentation had been submitted in relation to foreign currency transactions at Phala Phala and whether the SARB has any knowledge of this. While my letter to the SARS Commissioner raises questions about SARS’ knowledge about these funds, declarations made in respect of this cash and whether tax had been paid in respect of such transactions.
It is illegal for South African businesses to transact in foreign currency unless it is for export purposes, and even then, documentation would exist to legalise such a transaction which had to be by electronic transfer and never in cash. It is further known that tourists are limited to only foreign currency not exceeding R25 000, and no local citizen would be able to hold more than $10 000 in foreign currency.