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Wednesday, February 26, 2020

Zambeef agrees to settle tax dispute with ZRA

Economy Zambeef agrees to settle tax dispute with ZRA

Zambeef trucks
Zambeef trucks

Zambeef has announced that it has agreed to pay over K14 million in an effort to put to and end a long dragging tax dispute with the Zambia Revenue Authority.

This follows the ZRA’s decision to appeal the judgement by the Tax Appeals Tribunal, which ruled in favour of Zambeef’s appeal against a K49.15 million assessments.

The Agreement provides that Zambeef will pay the ZRA a total of K14.4 million in six equal monthly instalments beginning 30 April 2016.

Approximately K2m of the K14.4m is recoverable Value Added Tax.

As long as Zambeef’s adheres to this payment schedule, interest and penalties totalling K3.1 million will be waived.

Zambeef Joint Chief Executive Officer, Carl Irwin said “I am delighted that we have now concluded this long standing issue and that we can now put this matter behind us.

This Agreement will also allow us to reverse approximately K33.6m provision back into our profits.

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14 COMMENTS

  1. Yes, and no more bringing in matumbo and chifu laced with poisons in order to eliminate the Zambia pipo, and just because you want to rake-in millions of pounds for remittance back home to ‘angland’ as Afghanistan refugees would say…

  2. HH does not pay TAX! And he stands up & talks about Govt mismanagement. This guy is a thief. He stole from Privatization Agency, now he continues to steal from the pipo of Z. And then he wants to b the president.

  3. ZRA is too relaxed with big business and corporations…how long has this been dragging? They make it seem as though they are doing ZRA a favour and its a donation…try messing with British Inland Revenue; they would add interest given that Zambeef is paying in installment inconveniencing everyone!!

  4. The so called lawyers at ZRA where paid off how much to accept this ‘deal’ ok do the same for the Post Kaili from 39m plus to 14.1 and then relief? And the tribunal members how much…reeks of incompetence jobs should be performance related and such a loss should reflect on the performance of the director legal!

Comments are closed.

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