Government appears to have completely U-turned on the $600m VAT refund to exporters, with the larger bulk owed to mines and other exporters. ZRA says the U-turn is due to "widespread concern on the matter".
Minister Minister Chris Yaluma says "ZRA will do what they think is right and like they said, they have got the autonomy to run as best as they can to ensure all needed revenues are collected...They are trying to do what they can do best in the interest of the country." (Source: The Post). No word from Alexander Chikwanda but it appears the U-turn may have President Sata's backing.
Mopani Copper Mines revealed last week that it is owed about $200 million in VAT refunds by GRZ because it has "failed to comply with a rule requiring them to supply import documents from the country their exports end up in". It says it can't provide the papers because it sells to traders and don't know the final destination of the metal (Source: Bloomberg)
[view whole blog post
]
 |
 |
 |
 |
 |
 |
|
See More
Report Abuse