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
-
Joy FM Mummy’s Day Out: Patrons welcomed with fresh coconut juice at Crown Forest
10 minutes -
NDC fully supports Raymond Archer’s work as EOCO boss – Abass Nurudeen
29 minutes -
Raymond Archer has made EOCO a one-man institution – Afenyo-Markin
53 minutes -
Kumasi to become Industrial energy hub with over 1,000MW capacity — Energy Minister
1 hour -
Hanan’s case is one of EOCO’s strongest — Raymond Archer asserts
1 hour -
Constitution of NPP policy committees a step in the right direction — Osae-Kwapong
1 hour -
Samson’s Take: Transfers as punishment – The confessions of Minister Linda Ocloo
1 hour -
Raymond Archer denies blocking lawyers’ access to Hanan and wife in EOCO custody
1 hour -
26 editions, 10 names; Ranking the longest Artiste of the Year nomination streaks in TGMA history
1 hour -
No process breached in Hanan and wife’s case – Raymond Archer
2 hours -
ORAL is dead and burried – Alfred Tuah-Yeboah
2 hours -
EOCO boss defends ‘professional and methodical’ probe into PDS case
2 hours -
Charles Amissah’s Death: A lot of the blame must go to the ambulance service – Dr Yankson
2 hours -
NAPO rejects power sabotage allegations, urges government to focus on resolving electricity crisis
2 hours -
Gov’t intensifies power sector upgrades to strengthen electricity supply in Ashanti Region
2 hours