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Article

22 Mar 2018

Author:
Taonga Clifford Mitimingi, Bloomberg (South Africa)

Zambia: Tax authority announces it will conduct tax auditing of mining companies going back 6 years

"Zambia to Conduct Tax Audit of Mining Companies for Past 6 Years", 20 March 2018

Zambia’s tax agency plans to conduct audits on mining companies in the country running back six years after uncovering 76.5 billion kwacha ($7.9 billion) of underpayment by a “prominent” miner. The Zambia Revenue Authority may extend the period of the audit should it find a pattern of “consistent, systematic, premeditated” tax evasion, it said in a statement.