Saturday, 23 February 2019

GINIMBI TAX EVASION : PROBE COMPLETE

Businessman Genius Kadungure was back in court yesterday for continuation of his $22 million tax evasion case.

Kadungure was represented by Jonathan Samkange when he appeared before Harare regional magistrate Vongai Guuriro.


Prosecutor Shephered Makonde advised the court that investigations in the matter had been completed and a trial date would be issued for Kadungure on March 21. According to the State between February 2009 and May 2016, Kadungure allegedly made misrepresentations to Zimbabwe Revenue Authority (Zimra) that his company Pioneer Gases made total sales of $2 777 678,13 although the total was 
$9 092 951,51.

It was alleged that Kadungure made the misrepresentation to avoid paying tax and Zimra was prejudiced $417 940, 58.

The offence came to light when Zimra investigated operations of Pioneer Gases and a lifestyle audit of Kadungure. On March 2, 2016, Kadungure told Zimra investigators that he owned a Domboshawa residential property valued at $200 000, Rolls Royce, Bentley Range Rover, a Mercedes-Benz S Class and BMW motor vehicles.

Zimra investigators asked Kadungure to prove the source of income but failed to do so leading to his arrest.

Between January 2010 and December 2015, Kadungure did not declare sales made by his Pioneer Gases amounting to $9 092 951.51 and concealed assets valued at $1 191 713.45.
Section 81 (1) (a) of the Income Tax Act required Kadungure to file tax returns and pay tax due to the Commissioner of Taxes. Daily News

0 comments:

Post a Comment