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
-
Iran war lands ‘triple blow’ to flood-ravaged Sri Lankans
31 minutes -
Gunmen kill at least 11 people at Afghanistan picnic spot
45 minutes -
Woman, 25, in court for stealing baby at Bogoso
46 minutes -
Trump unveils giant gold-accented victory arch design for US capital
49 minutes -
We spoke to the man making viral Lego-style AI videos for Iran. Experts say it’s powerful propaganda
54 minutes -
Hungarians vote in big numbers on whether to end Orbán rule and elect rival
54 minutes -
At least 30 feared dead in crush at Haitian tourist site
55 minutes -
Boxing: Abdul Ahmed wins WBA Africa Cruiserwight title after dispatching Nigeria’s Eradeye
1 hour -
Nearly 2,000 displaced, schools damaged as windstorm wreaks havoc in Gushegu
1 hour -
Ghana’s Derrick Kohn to work under Marie-Louise Eta as she becomes first woman to coach men’s Bundesliga team
2 hours -
Accra Open Championships conclude with strong performances ahead of African Championships
2 hours -
Ghana to begin camping with 12 athletes after Accra Open Championships – Bawa Fuseni
2 hours -
Anthony Joshua declines showdown with Tyson Fury but admits they ‘probably’ clash next
2 hours -
Tyson Fury dominates Makhmudov, calls out Joshua next
3 hours -
I have supported highway authority financially to fix roads in my constituency – A Plus
4 hours