The Centre for Trade Policy and Development has reminded the Zambia Revenue Authority (ZRA) to give an update on the US$7.6 billion tax evasion scam involving First Quantum Minerals (FQM).
Last year, the Zambia Revenue Authority disclosed that it had uncovered a tax evasion scam in which a mining company evaded paying taxes worth K76.5 billion or the equivalent of about $7.5 Billion.
CTPD Executive Director Isaac Mwaipopo says ZRA indicated that they were investigating FQM over the matter and hence the need to update the people of Zambia.
The CTPD Executive Director said this when he featured on Money FM Business Radio’s Power, Policy and Money Programme that airs every Mondays and Thursdays at 9hrs.
Mr. Mwaipopo says the money if for the people of Zambia and thus the more reason to update the nation on this important matter.

And when contacted for a comment, ZRA Corporate Communications Manager Topsy Sikalinda says ZRA Commissioner General Kingsley Chanda updated the nation when he held a press briefing in Lusaka to highlight the authority’s performance in the financial year 2018.
Mr. Sikalinda says the Commissioner General disclosed that ZRA audited all mining companies following their poor contribution to tax revenues, high VAT claims and loss declarations by the majority of them.
Meanwhile, Mr. Mwaipopo says Zambia should reject the offer by FQM to buy the government’s 20 percent in the mine at US$700 million.
He says Zambia is not in a crisis to consider selling its shares in FQM for US$700 million.

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