ZRA Pounces on Chambishi Metals Plc
The Zambia Revenue Authority crack squad comprising of forensic auditors and enforcement officers raided Chambishi Metals following the company’s failure to pay over K800 million principal tax.
The company has been on care and maintenance since May 2020. They stopped production and laid off workers. Despite assurances to settle the taxes, the company has ignored ZRA demand notices and requests. The Authority has ran out of patience and decided to act in order to protect government revenue and secure Zambian jobs.
Media reports and other unconfirmed reports have revealed that the owners were trying to sell the company and ran away without paying taxes.
Chambishi Metals is owned by Eurasian Resources Group, a company based in Luxemburg.