News / National
Ginimbi not yet a free man
01 Dec 2018 at 08:38hrs | Views
Harare businessman Genius Kadungure's woes are not yet as he is still battling an alleged case of tax evasion amounting to $22 million.
Kadungure was on Friday acquitted of a smaller charge of fraud charges involving a botched mining equipment supply deal worth about $ 100 000.
Kadungure is facing allegations that between February 2009 and May 2016, he misrepresented to the Zimbabwe Revenue Authority (Zimra) that his company, Piko Trading, made total sales of $2 777 678 inclusive of value-added tax (VAT), whereas in actual fact, it had made $9 092 952 inclusive of VAT.
The court heard that this was done with the intention of evading paying (VAT).
The offence came to light when Zimra conducted an investigation into Piko Trading activities.
Kadungure is out on a $1,000 bail given by Harare High Court.
Part of the conditions for his release, Kadungure surrendered his passport; title deeds for a property worth $250,000 and was instructed to report once fortnightly to the CID Commercial Crimes Unit and to continue residing at his home in Domboshava.
Kadungure was on Friday acquitted of a smaller charge of fraud charges involving a botched mining equipment supply deal worth about $ 100 000.
Kadungure is facing allegations that between February 2009 and May 2016, he misrepresented to the Zimbabwe Revenue Authority (Zimra) that his company, Piko Trading, made total sales of $2 777 678 inclusive of value-added tax (VAT), whereas in actual fact, it had made $9 092 952 inclusive of VAT.
The court heard that this was done with the intention of evading paying (VAT).
Kadungure is out on a $1,000 bail given by Harare High Court.
Part of the conditions for his release, Kadungure surrendered his passport; title deeds for a property worth $250,000 and was instructed to report once fortnightly to the CID Commercial Crimes Unit and to continue residing at his home in Domboshava.
Source - Byo24News
