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
-
The Ghanaian prophet and the mysterious death of his scottish wife Charmain Speirs
8 minutes -
Nearly 400 sentenced in Nigeria for links to militant Islamists
30 minutes -
Ghana’s recovery supported by gold strength despite global oil price pressures – Standard Bank Research
36 minutes -
Kwaku Azar writes: A-G vs OSP
1 hour -
Mfantsipim–Adisadel rivalry built excellence, not division – Sam Jonah
2 hours -
Vice President launches Mfantsipim’s 150 years of shaping Ghana’s greatest mind
2 hours -
I assure Otumfuo, Mahama will join him to commission KNUST Teaching Hospital by end of this year – Haruna Iddrisu
3 hours -
Barcelona dominate derby to extend La Liga lead
3 hours -
Gov’t to roll out free special education for persons with disabilities from July 1 – Education Minister
3 hours -
Importers and Exporters Association declares full support for Publican AI port system
3 hours -
“We used it to test our officiating officials’ readiness” – Bawah Fuseini after CAA Athletics event
3 hours -
Volleyball emerges as Ghana’s fastest rising sport
3 hours -
National Sports Fund needs strong leadership from the top – Administrator David Wuaku
4 hours -
JoySports Exclusive: Steve McLaren in talks with GFA after expressing interest in Black Stars job
4 hours -
Fire guts auto parts warehouse at Bubuashie, one fire officer injured
4 hours