ZRA recovers K9.4-million from Gold scam suspect KASANDA

By Masauso Mkwayaya

The Zambia Revenue Authority –ZRA- and the Drug Enforcement Commission –DEC- have recovered over NINE Million Kwacha in taxes from a company linked to SHADRICK KASANDA in the Gold scam case.

This follows a comprehensive investigation of the company’s tax compliance, which resulted in an assessment totalling over 52.4 million Kwacha.

AFME METAL EXCHANGE LIMITED, a company in which Mr. KASANDA, a co-accused in the gold scam case, holds the position of shareholder and director, received huge unexplained sums of money from overseas sources without declaring taxes on the same.

Mr. KASANDA further allegedly withdrew the same amounts in his name without declaring or accounting for any taxes to the ZRA.

This amount represented the sole available funds in the account at the time of the DEC’s seizure.

The account was blocked by the DEC and consequently garnished by the ZRA as payment towards the liquidation of the 52.4 million Kwacha total assessment.

This recovery of the taxes follows a thorough joint investigation conducted by officers from the DEC and the ZRA.

The investigation focused on AFME Metal Exchange Limited’s tax compliance.

This is according to a joint statement issued to ZNBC News by ZRA Corporate Communications Manager OLIVER NZALA and DEC Public Relations Officer MWENGE MULENGA.

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