More than a hundred companies are incriminated in VAT fraud, estimated at more than 2 billion 563 million FCFA, the National Anti-Fraud Coordination (CNLF) said on Monday. ) which was announced the arrest of several fraudsters including the mastermind.
The amount of VAT embezzlement, excluding fines and penalties, amounts to 2 billion 563 million 737 thousand 871 F CFA, indicated Monday, the Coordinator of the National Anti-Fraud Coordination (CNLF), Dr Yves Kafando.
Mr. Kafando, who spoke at a press conference, added that more than a hundred companies are incriminated and fraudsters including the masterminds arrested.
The Coordinator specified that the CNFL identified a major fraudulent scheme by various actors which allowed various actors to enrich themselves at the expense of the State.
According to Mr. Kafando, these fraudsters keep the VAT collected through front companies.
He specified that these shell companies are created by usurping the identities of honest citizens, so that the names of the
main fraudsters do not appear on any document throughout the procedure.
Dr Yves Kafando maintained that the people arrested at the start of the investigation have already been in prison.
‘As part of the fight against fraud, the actions of the CNLF will enable the General Directorate of Taxes (DCI) to recover revenues of 7 billion 563 million 737 thousand 817 F CFA and the General Directorate of Customs to recover revenue of 714 million 546 thousand 248 F CFA,’ added Yves Kafando.
He also added that for the year 2023 for an expected mobilization of 178 million FCFA, the CNLF has mobilized more than 272 million 111 thousand 945 F CFA one quarter before the end of the financial year.
Mr. Kafando suggested that the CNFL is pushing companies that are not in good standing to repay before resorting to legal action.
However, he clarified that cases which will not reach a conclusion at the level of the CNFL will be transferred to the public prosecutor’s office for further action.
‘We are not limited to reimburse
ment, there are often penalties and fines which often range from simple to double. For example, in the case of VAT, someone who has defrauded VAT to the tune of 500 million FCFA will pay a penalty of 200%. You pay a billion as a penalty and you pay 500 million for VAT so you find yourself spending 1 billion 500 million FCFA,’ insisted the CNFL Coordinator.
Source: Burkina Information Agency