The Economic and Financial Crimes Court has found two Copperbelt-based enterprises guilty of violating the Value Added Tax Act by evading taxes totaling over K22 million.
This follows a verdict rendered against Santorin Investments Limited Company and its director Victor Mwansa 33, as well as Junsheng Company Limited, according to Oliver Nzala, manager of corporate communications for ZRA.
According to Mr. Nzala, the accused individuals representing Junsheng Company Limited are charged with 24 counts of filing false returns and statements and 112 counts of tax evasion, while those representing Santorin Investments Limited Company are charged with 112 counts.
“Facts of the case are that Santorini Investments Limited and Mwansa, on dates unknown but between the 1st day of September 2018 and the 30th day of September 2022 in Kitwe, jointly and whilst acting together, in purported compliance with the law did provide information namely tax invoice numbers to ZRA, purporting to show that Santorini Investments Limited had been supplied with taxable supplies by various Copperbelt based companies which was false in material particular,” he said.
Mr. Nzala said that the company and its director, Mwansa, were found guilty on all 112 charges by a court in Kitwe, which was on the other side of Lusaka, and were consequently fined K1,288,000.00.
According to him, the director of the convicted firm will be sentenced to nine months of simple incarceration in prison and a warrant of distress will be issued if the accused do not pay the fine by or before March 30, 2023.
The facts for Junsheng Company Limited, on the other hand, show that on dates unknown but between the first day of January 2016 and the first day of November 2022 in Kitwe, jointly and while acting together, provided information, namely tax invoice numbers to ZRA purporting to show that it had been supplied with taxable supplies by various Copperbelt based companies that was false in material particular.
According to Mr. Nzala, the corporation was found guilty on all 24 charges on which it was charged, and as a result, was sentenced to pay a fine of K6,591,014.50.
