Marange Resources, which is wholly owned by the state-owned Zimbabwe Mining Development Corporation (ZMDC), is reportedly owing the country’s revenue authority $3.7 million in unpaid taxes dating from 2010.
The Source reports, citing the latest Auditor-General’s report that the ZMDC, its subsidiaries and joint ventures had been remitting their corporate tax and royalties to the ministry of mines instead of remitting to the revenue collector.
“Marange Resources’ tax liabilities from the 2010 financial year were not paid in the year under review. Unpaid tax liabilities accrue interest and penalties,” said the report.
“There was a corporate tax liability of $3,152,820 and a VAT payable of $663,931 as at December 31 2011.”
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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