Audio By Carbonatix
Zambia’s tax agency plans to conduct audits on mining companies in the country running back six years after uncovering $7.9 billion of underpayment by a “prominent” miner.
The Zambia Revenue Authority may extend the period of the audit should it find a pattern of “consistent, systematic, premeditated” tax evasion, it said in a statement.
"We are announcing the preliminary assessment of 76.5 billion kwacha issued to a prominent mining company for misclassifying consumables and spare parts at importation for the last five years,” the tax authority said, without identifying the company. “The said items were declared as mining machinery, which attract customs duty at zero percent, when in fact not.”
Zambia is Africa’s second-biggest copper producer.
Latest Stories
-
Corruption is still everywhere – Sam Okudzeto says OSP missed its mission
55 minutes -
Scrap it – Sam Okudzeto says Special Prosecutor’s office has achieved nothing
1 hour -
Golden Globes 2026: The full list of nominees
2 hours -
DiCaprio’s One Battle After Another leads Golden Globe nominations
2 hours -
New mpox strain identified in England
2 hours -
Why has Paramount launched a hostile bid for Warner Bros Discovery?
2 hours -
White South Africans divided on US refugee offer
2 hours -
Australia’s social media ban for children has left big tech scrambling
2 hours -
Trump gives Nvidia green light to sell advanced AI chips to China
3 hours -
Dozens injured after magnitude 7.5 quake strikes northern Japan
3 hours -
Office of Special Prosecutor has failed – Sam Okudzeto tears into Ghana’s anti-corruption model
5 hours -
Israeli climate tech company pioneers eco-friendly lime
5 hours -
Critical moment to ramp up support for Ukraine, European allies say
5 hours -
Burkina Faso plans to restore death penalty for treason, terrorism, espionage
5 hours -
Ivory Coast’s incumbent leader Ouattara is sworn in for a fourth term
6 hours