The Zambia Revenue Authority today raided Gatbro International Limited and initiated investigations into alleged tax evasion and related financial irregularities involving the company and associated entities. Officials confirmed that enforcement teams carried out the raid while launching inquiries centred on suspected under declaration of imported goods, possible non disclosure of actual sales revenue and questions surrounding financial reporting practices.
According to details released by the Authority, Irfaan Ismail Yosouf has been identified as the principal beneficial owner of the company, alongside directors Shalida Yosouf, Jamil Mitha, Shiraz Gathool, Nadeem Yousuf Muhammed and Mohammed Khanat. The investigation is examining whether goods imported into the country were declared accurately and whether tax obligations were fulfilled in line with existing legislation.
Preliminary findings outlined by investigators indicate suspected under declaration of imported goods and potential misrepresentation of financial records. Authorities stated that the company may have failed to declare the true value and volume of goods imported, which could have reduced its tax liability. Officials added that reported sales revenue is also under review as part of the inquiry.
Investigators indicated that there are suspicions regarding whether the correct amounts of Value Added Tax and Income Tax were remitted. The inquiry references provisions contained in the Income Tax Act and the Value Added Tax Act of Zambia, with officials maintaining that all findings remain allegations subject to verification through due legal processes.
A central part of the investigation focuses on patterns of intra group transactions among Gatbro International Limited’s associate entities. Authorities explained that inter company financial movements may have enabled the transfer of income, costs and goods across affiliated companies in ways that affected the group’s taxable position. The possible externalisation of taxable income is among the issues being reviewed through a detailed forensic examination.
Officials also highlighted the group’s diversified operations spanning FMCG distribution, hospitality, real estate, mining and energy. According to the Authority, this multi sector structure provides operational flexibility that may allow assets and financial flows to move between entities within the network. The purpose and full extent of these transactions remain under examination.
The investigation extends to several entities identified as operationally linked to the group, including companies involved in distribution, mining, property, tourism and energy activities. These operations are located in Lusaka, Mumbwa, the Lower Zambezi and Mfuwe. Senior management figures, directors of associated offshore entities and certain operational personnel are also subject to review under established procedures.
During the raid, authorities seized US$145,000. Officials did not disclose further operational details but confirmed that the seizure forms part of the ongoing investigation. The Authority reiterated that inquiries are continuing and that any conclusions will depend on the outcome of financial analysis and legal review.
The revenue authority stated that the raid and subsequent investigations are being conducted within the framework of Zambian law. Officials maintained that the agency remains committed to enforcing compliance objectively and professionally, adding that any taxpayer found to have contravened legislation will face action in accordance with national laws.
Authorities further assured the public that revenue protection, transparency and accountability remain central to their mandate. Updates will be provided where appropriate, consistent with legal and investigative considerations.
Credit/Source: Statement issued by Oliver Nzala, Manager ZRA Corporate Communications Click More the full Statement
ZRA RAIDS GATBRO INTERNATIONAL LTD FOR SUSPECTED TAX EVASION AND FINANCIAL IRREGULARITIES
12th February, 2026
The Zambia Revenue Authority (ZRA) today raided and initiated inquiries and investigations into alleged multiple tax evasion and related financial irregularities involving Gatbro International Limited and associated entities.
Irfaan Ismail Yosouf has been identified as the principal beneficial owner of the company, with Shalida Yosouf, Jamil Mitha, directors Shiraz Gathool, Nadeem Yousuf Muhammed and Mohammed Khanat, as Directors.
Preliminary findings indicate suspected under-declaration of imported goods, possible non-disclosure of actual sales revenue, and potential misrepresentation of financial records. It is further alleged that the company may have failed to accurately declare the true value and volume of goods imported, thereby reducing its tax liability.
Furthermore, there are suspicions that the correct amounts of Value Added Tax (VAT) and Income Tax may not have been remitted, contrary to the provisions of the Income Tax Act and the Value Added Tax Act of Zambia.
A detailed analysis has identified patterns of intra-group transactions among Gatbro International Limited’s Associate entities in inter-company transactions that may have enabled the movement of income, costs, and goods across affiliated entities in a manner that affects the group’s taxable position and possible externalization of taxable income.
The group’s multi-sector operations- spanning FMCG distribution, hospitality, real estate, mining, and energy, provide structural flexibility that may facilitate the reallocation of illicit financial flows and movement of assets within the network. The full extent and purpose of these transactions remains under examination and will be subject to a detailed forensic review.
The investigation encompasses several entities identified as operationally linked, including companies involved in distribution, mining, energy, property, hospitality, and tourism activities, with operations in Lusaka, Mumbwa, Lower Zambezi and Mfuwe.
Senior management, directors of associated offshore entities, and certain operational personnel are also subject to review in line with established procedures.
During the raid, US$ 145,000 was also seized by the Authority.
The Zambia Revenue Authority has said investigations are ongoing and that all findings at this stage remain allegations subject to verification through due processes.
The Authority remains committed to upholding the law objectively and professionally. Any taxpayer found to have contravened tax legislation will be dealt with in accordance with the laws of Zambia.
ZRA further assures the public that revenue protection, transparency, and accountability remain central to its mandate. The Authority will provide updates as appropriate, consistent with legal and investigative considerations.
Issued by:
Oliver Nzala
Manager- ZRA Corporate Communications
Den of Thieves, from Dalistso and now to the friends of his father,including Bokani Soko, who is a prominent lawyer believed to be a close associate of former President Edgar Lungu. Soko’s firm, Grandview International, was involved in the controversial $42 million fire tender contract all these case somehow maybe in the same ring, they need be revisited
This is True, these guys were playing togther and in fact they should investigate and wake up the Honey bee case including Nera, which i believe was run by some former PS under the PF Government, this Indeed
The framing here raises eyebrows. You highlight seized cash and corporate links but provide almost zero background on whether the company has ever been audited before or cleared in past compliance checks. That imbalance creates a presumption in the public mind. Journalism should slow down public outrage, not amplify it through selective emphasis.
Kabwalala iwe
I actually think the article did its job by presenting the authority’s statement and reminding readers that allegations remain under review. That balance protects both public interest and fairness.”
When authorities describe patterns of shifting income across entities, people naturally suspect deliberate planning. That perception damages trust in the private sector as a whole
When these Asians band together and form a company, just know………..
There is massive externalisation and tax underpayment…………
Zambia needs laws like Zimbabwe where atleast 50% of the company must be for indigenous black peoples………..
Otherwise we will have a idi amin situation in Zambia………
FWD2031
Spaka just can’t resist the tribalism lure. From him it’s always “These Asians” “These Bembas” “These Ngonis”. How about “us humans”?
Most of the foreigners running businesses in Zambia are criminals.
Why do u say so? Statistics please.
Just making headlines as every thing will die slowly .