Changesheng Mining Equipment Company Limited was found guilty and given a sentence for evading taxes by around K2.5 million by the Economic and Financial Crimes Court.
According to Oliver Nzala, Corporate Communications Manager for the Zambia Revenue Authority (ZRA), the business would be required to pay a K13.6 million fine on or before September 5, 2023.
According to Mr. NZALA, the court found Changesheng Mining Equipment Company Ltd responsible for 13 counts of tax evasion in violation of section 44 of the Value Added Tax Act and 13 counts of false statements and returns in violation of section 43 of the Value Added Tax Act.
During in an interview, Mr. NZALA said that the company in Kitwe supplied tax invoices to Zambia ZRA between May 2021 and August 2022 that falsely claimed Changesheng Mining Equipment Company Ltd had purchased taxable commodities from other businesses situated on the Copperbelt.
He said that the corporation afterwards robbed the government of money and caused a revenue loss.
According to Mr. NZALA, the court has also stated that tax evasion cases are on the rise and that a deterrent sentence was required to discourage potential tax offenders.