Lesotho Tax Authority Warns Against Financial Crimes as Fraud Cases Soar

Background

The Revenue Services Lesotho has sounded the alarm on the increasing number of financial crimes committed by individuals in the country. According to sources within the authority, many taxpayers are deliberately evading their tax obligations, resulting in significant losses for the government.

Types of Financial Crimes

• Intentionally failing to file income tax returns
• Making false or fraudulent claims for tax refunds
• Failing to maintain accurate records of business income and expenses
• Opening and closing businesses solely to evade paying taxes

Urgent Action Needed

Revenue Services Lesotho is urging taxpayers to report any suspected tax fraud activity, stressing that anonymity will be maintained throughout the reporting process. The authority has established a dedicated Investigations and Intelligence department at PO BOX 1085, Finance House, Maseru 100, where individuals can submit their tips.

Consequences of Tax Fraud

The government has vowed to take a tough stance against financial criminals, promising severe penalties for those found guilty of evading taxes. Lesotho is grappling with a growing fiscal deficit, which has been exacerbated by the increasing incidence of tax fraud.

Importance of Honesty in Taxation

As the authorities step up their efforts to crack down on tax fraud, taxpayers are being reminded that honesty is always the best policy when it comes to paying their dues. The Revenue Services Lesotho is urging individuals and businesses to come forward and report any suspected financial irregularities, ensuring a fair and transparent taxation system for all.

Contact Information

For reporting suspected tax fraud activity or submitting tips, please contact:

• Investigations and Intelligence department
• PO BOX 1085, Finance House, Maseru 100