- The Zambia Revenue Authority (ZRA) is investigating over 320 suspected VAT refund fraud cases.
- These cases are estimated to involve over K5 billion.
- ZRA Manager Corporate Communications, Oliver Nzala, reported that more than 140 cases have been concluded, resulting in 11 convictions in the Economic and Financial Crimes Court.
- ZRA has recovered over K4.4 million from Spax Mining Limited for VAT evasion.
- The recovery includes K100,000 in legal costs incurred by ZRA.
- Spax Mining Limited pleaded guilty to VAT fraud, violating section 43 of the Value Added Tax Act Chapter 331 of Zambian law.
- The company was fined over K13,000 or faced six months of simple imprisonment as a result of the conviction.
Source: znbc.co.zm
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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