Dirty money fears as churches rake in P216m

Friday, September 11, 2020

Churches made millions in 2018 PIC: GETTY IMAGES

Religious societies earned P216 million in 2018, while paying no taxes and being one of the sectors in the country with the highest risks for money laundering and financing of terrorism, a Finance and Economic Development ministry report shows.

The figure of P216 million is based on the annual returns of those organisations that actually filed with the Registrar of Societies, which in 2018 was 57% of the 2,451 registered religious societies.

As authorities fight to shrug off the country’s negative listing for money laundering by organisations such as the European Union, religious societies have emerged as a hotspot for dirty money and financing of terrorism.

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Dirty money fears as churches rake in P216m

Religious societies earned P216 million in 2018, while paying no taxes and being one of the sectors in the country with the highest risks for money laundering and financing of terrorism, a Finance and Economic Development ministry report shows.

Stanbic pretax profits up 11%

The audacity to be a unicorn

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Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

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Inspect the voters' roll!