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Over K22 million will be recovered by the Zambia Revenue Authority (ZRA) from tax evasion.
This follows the conviction of two Copperbelt based companies by the Economic and Financial Crimes Court for tax evasion, contrary to the Value Added Tax Act.
This is according to the ZRA Corporate Communications Manager, Oliver Nzala in a statement issued on Wednesday in Lusaka.
Nzala said Santorin Investments Limited Company and its Director Victor Mwansa aged 33, and Junsheng Company Limited appeared before the Economic and Financial Crimes Court in Kitwe for judgment on February 22, 2023.
The accused persons representing Santorin Investments Limited Company were facing 112 counts while those representing Junsheng Company Limited are facing 24 counts of false returns and statements and evasion of taxation, respectively.
Read more: ZRA blocks attempt to evade K.8m tax, seizes smuggled boxes of dettol, trucks.
“Facts of the case are that Santorini Investments Limited and Victor Mwansa, on dates unknown but between the 1st day of September 2018 and the 30th day of September 2022 in Kitwe, jointly and whilst acting together, in purported compliance with the law did provide information namely tax invoice numbers to ZRA.
“These purported to show that Santorini Investments Limited had been supplied with taxable supplies by various Copperbelt based companies which was false in material particular,” he said.
Nzala explained that the Court sitting in Kitwe on circuit from Lusaka convicted the company and Director Victor Mwansa on all the 112 counts they stood charged and accordingly convicted them to a fine of K1, 288,000.00.
He stated that if the accused persons did not pay the fine by or before March 30, 2023, the convicted Director would be sent to prison for a term of nine months simple imprisonment while a warrant of distress will be issued to the convicted company.
“And facts for Junsheng Company Limited are that on dates unknown but between the 1st day of January 2016 and the 1st day of November 2022 in Kitwe, jointly and whilst acting together, in purported compliance with the law did provide information namely tax invoice numbers to Zambia Revenue Authority.
“They purported to show that Junsheng Company Limited had been supplied with taxable supplies by various Copperbelt based companies which was false in material particular,” Nzala said.
The Court convicted the company on all the 24 counts it stood charged and accordingly convicted the company to a fine of K6, 591,014.50.
If the convicted company does not pay the fine on or before April 25, 2023 a warrant of distress will be issued to the convicted company.
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