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Zambian Tax Authority Clears Gemfields

Revenue department found no instances of wrongdoing at emerald mine, company says.
Dec 24, 2018 8:53 AM   By Rapaport News
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RAPAPORT...
 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
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