ZRA INVESTIGATES 320 VAT FRAUD CASES
The Zambia Revenue Authority –ZRA- is dealing with over 320 circumstances suspected for VAT refund fraud.
ZRA Manager Corporate Communications OLIVER NZALA says the circumstances are estimated to be price over K5-billion.
In an interview with ZNBC News, Mr. NZALA mentioned over 140 circumstances have been concluded with 11 convictions within the Economic and Financial Crimes court docket.
Meanwhile Mr. NZALA has revealed that ZRA has recovered over K4.4-million from Spax Mining Limited on the Copperbelt which it had evaded in VAT.
Mr. NZALA mentioned the restoration which features a K100, 000 cost which ZRA incurred in authorized prices follows conviction of the corporate which pleaded responsible to VAT fraud.
He mentioned that is opposite to part 43 of the Value Added Tax Act Chapter 331 of the legal guidelines of Zambia.
Mr. NZALA added that upon the convict’s personal request for forgiveness, the Economic and Financial Crimes Court convicted and sentenced Spax Mining Limited to pay a superb of over K13,000 or in default serve six months easy imprisonment.
ZNBC
