Advanced Search

Zambian Tax Authority Clears Gemfields

Dec 24, 2018 8:53 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

 The Zambian Revenue Authority (ZRA) has cleared Gemfields' subsidiary Kagem Mining of all tax-evasion allegations following an investigation at its emerald mine earlier this year.

The ZRA has advised Kagem that all matters under scrutiny have been “suitably addressed,” Gemfields said last week. The tax authority found no instances of wrongdoing or late payment by either party, the miner noted.

During an unannounced visit in August, the ZRA raided the miner’s Zambian asset, and served two search warrants on Kagem Mining and Limpopo Polygraphs, a South African company that does periodic testing at the Kagem emerald mine. During the visit, the ZRA confiscated documents and files Kagem allegedly used to evade tax payments.

The ZRA has closed the investigation without levying any penalties against either Kagem or Limpopo, Gemfields added.

Image: The Kagem emerald mine. (Gemfields)
Tags: Gemfields, Kagem Mining, Limpopo Polygraphs, Rapaport News, Zambian Tax Authority, ZRA
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.