Zambia Revenue Authority (ZRA) Commissioner General Kingsley Chanda says the authority has not paid out any refunds to Konkola Copper Mine.
News Diggers reported, Thursday, that ZRA had paid close to K100 million in VAT Refunds to KCM, money which the mine would use to pay its liquidator, Milingo Lungu’s legal fees.
But in a statement, Chanda said no such payment had been paid to KCM.
“The Zambia Revenue Authority wishes to dispel the story in one of the daily tabloids indicating that the Authority has paid Konkola Copper Mine (KCM) about 95 Million Kwacha in tax refunds to pay legal fees. The position of the Authority is that no such payment has been made to KCM. As indicated in our earlier statements on VAT refund to KCM, that the company owes ZRA more than what the Authority owes it. Thus all duly audited and verified VAT claims due for payment will be offsets against the company’s outstanding liabilities,” stated Chanda.
“We need to note that KCM is still a going concern and therefore continues to meet its tax obligations. KCM will continue to be treated like any other business in so far as tax matters are concerned. ZRA has therefore NOT paid KCM any purported refund as alleged.”