Ken Sharpe ordered to pay $6.3 million to Zimra

Businessman Ken Sharpe, who is a director of Afritrade International (ATI), has been ordered by the Fiscal Appeal Court to pay $6,3 million to Zimbabwe Revenue Authority (Zimra) in taxes.

The businessman's efforts to avoid paying the government value added tax (VAT) after conducting business by supplying basic commodities under the Basic Commodities Supply Side Intervention (Bacossi) seven years ago, were thwarted by the Fiscal Appeal Court, which ruled that his firm, ATI, had an obligation to pay the demanded tax.

High Court judge, Justice Samuel Kudya delivered his judgment on Tuesday in a matter where ATI had approached the Fiscal Appeal Court challenging Zimra's demand for the tax.

According to the evidence presented in court, sometime in 2008, ATI (incorporated in May in the British Virgin Islands) entered into an agreement with the Reserve Bank of Zimbabwe (RBZ) to supply Bacossi products to Zimbabwe.