n Without Prejudice - Stolen money can be taxing : tax




Taxpayers incur expenditure and losses through theft or fraud on a daily basis. This is an unfortunate reality of doing business in South Africa. There are many ways in which money can be stolen from a business. An employee may steal money or there may be a break-in or robbery at the business premises. Money may be stolen through unlawfully altering a cheque or unauthorised access to internet banking. The theft or fraudulent loss of money from a business has income tax implications for both the victim and the thief.


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