FS Fashion Week founder Candy Smith breaks silence on R300k tax fine
Smith says she is adhering to all legal obligations.
Free State Fashion Week founder, Candy Smith. Picture: Instagram/@candy1fs
Creative entrepreneur and award-winning businesswoman Candy Smith has spoken out following her tax woes.
This comes after allegations that the Free State Fashion Week founder was fined R300,000/3 years in prison for submitting fraudulent tax returns and violating the Tax Administration Act 28 of 2011.
According to Central News, the sentence was handed down on Friday, 2 February, and suspended for a five-year period under the condition that Smith avoids further legal infringements and pays the fine in full by 2029.
Candy Smith breaks silence
In a statement sent to The Citizen, Smith’s team admits that “there were accounting discrepancies that led to bona-fide oversights in terms of the company’s tax declarations.”
However, they deny reports that she was found guilty.
“It is important to note on the record that she was not found guilty of fraud. An agreement was reached with the NPO regarding the statutory provisions relevant to the said oversight.”
The statement adds that Smith is repaying outstanding taxes and adhering to all legal obligations, adding: “Candy Smith remains committed to using her platform to uplift up-and-coming designers and contribute to the community.
“Despite the challenges she is currently facing, she is dedicated to supporting emerging talents and giving back, demonstrating her unwavering commitment to social responsibility.”