Categories: Editor's Picks

ZRA prosecutes five companies on VAT fraud charges

• It is alleged that Changesheng Mining Equipment Company Limited provided false Tax Invoices to the Authority.
• The Company provided Tax invoices purporting to show that Changesheng Mining Equipment Company Limited had purchased taxable goods while not.
• Changesheng Mining Equipment Company Limited and its director Wang Qi evaded paying Value Added Tax.

Zambia Revenue Authority (ZRA) says it has now prosecuted five companies on the Copperbelt on Value Added Tax (VAT) fraud charges.
ZRA Acting Corporate Communications Manager Oliver Nzala said it is alleged that Changesheng Mining Equipment Company Limited and its director Wang Qi aged 33, between 1st May 2021 and 31st August 2022, provided false Tax Invoices to the Authority.
Mr. Nzala stated that the company provided Tax invoices purporting to show that Changesheng Mining Equipment Company Limited had purchased taxable goods from other companies on the Copperbelt which was false, thereby defrauding Government of revenue amounting to 2 million 513 thousand, two hundred and thirty-four kwacha, 47ngwee.
He added that Mr. Wang Qi appeared before the Kitwe Subordinate Court on 20th September 2022, for plea and pleaded not guilty to all 24 counts of false returns and statement.
“Further, in the same period and jurisdiction Changesheng Mining Equipment Company Limited and its director Wang Qi evaded paying Value Added Tax and interest by providing false returns that taxable purchases were made from local Copperbelt Companies when in fact not,” Mr. Nzala said.
Mr. Nzala said this is the fifth company that is being prosecuted on the Copperbelt on VAT fraud charges.
He stated that the case has been adjourned to 17th and 19th October 2022 for commencement of trial.
“The actions of Changesheng Mining Equipment Company Limited and Wang Qi its Director caused loss of revenue to the Government of the Republic of Zambia in taxes amounting to K2, 513, 234, 47,”he added.

More From Author

World Bank urges Zambia to capture other benefits beyond mining sector

• World Bank is committed to supporting African countries to translate Africa’s mineral wealth into…

Read More

Kwacha gains should benefit consumers – BuyZed

• This is to ensure that consumers begin to enjoy what is produced locally.• Manufactures…

Read More

SEC attributes decline in Q4 bond trades to delayed debt restructuring process

• One of the challenges is to do with the delays in finalizing the debt…

Read More

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Zambia signs two Financing Agreements with EU, worth 110 million Euros

Government has increased funding to education from 8 percent to 14 percent. The EU has…

Read More

Authorities pounce on Precision Royal Beverages, arrest five for illegal production

This follows a joint operation conducted by ZCSA in collaboration with DEC, and others. The…

Read More

Govt nods Mopani’s payment of K87 million to KCC

This is a testament that new investments mean well in empowering the citizens. The payment…

Read More