Tax evasion
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Markets
ZIMRA loses over US$100 million to tax evaders
THE Zimbabwe Revenue Authority (ZIMRA) has lost over US$100 million through tax evasion and is now piling pressure on tax evaders. According to the latest update issued by the tax agency, collections for this year went up by over one hundred percent as a result of strict and tighter measures to plug tax evasion. With the second republic dealing with…
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Analysis
Genius Kadungure: Tax evasion, recklessness and black magic
By Reason Wafawarova IT IS shocking to read thousands and thousands of social media tweets and posts endorsing the totally baseless connection between the wealth of Mr Genius Kadungure and cultistic rituals, charms, dollar spitting snakes, and such medieval superstition based on what sociologist call the demonic perspective. This is an attribution of all things explainable or inexplainable to the…
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Companies
Swiss firm ABB to pay Zimra US$7 million for evading tax
THE US$13,4 million tax evasion dispute between Switzerland-headquartered power and automation technology company, ABB, and the Zimbabwe Revenue Authority (Zimra) has been settled, three years after it spilled into the courts. High Court judge Justice Vernanda Ziyambi on August 20 slashed the tax avoidance amount to US$6,3 million — from US$13,4 million — and also slapped ABB with a 10%…
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