DAILY NATION Thursday May 21, 2020

Page 1

DAILY

www.dailynation.info | dailynation@ymail.com

Price K10

Vol. 6. Issue 2604

Thursday May 21, 2020

CHEATING MOPANI FINED US$13 MILLION Kingsley Chanda

By CHINTU MALAMBO

C

HEATING Mopani Copper Mines which colluded with its parent company Glencore International AG (GIAG)

to undervalue the price of Copper has been charged US$13million. This was confirmed by the Supreme Court which yesterday ruled in favour of Zambia Revenue Authority (ZRA) after determining

from the year 2006 to 2009. This is a result of an audit done on Mopani by the ZRA which revealed sales pricing differences on prices that an associated party bought copper and the price that an independent

that the transactions between Mopani and GIAG International were less than arm’s length, and intended to reduce tax liability. Mopani will pay the State through the ZRA over K240 million tax charges assessed

No blame game on Bill 10 - Lewanika

party bought it at. According to a judgement delivered by Chief Justice Irene Mambilima sitting with two other Supreme Court judges Mumba Manila and Nigel Mutuna, the court found that the audit by ZRA

revealed issues that could cause any prudent tax authority to have misgivings about the arm’s length claim transactions between Mopani and GIAG, a shareholder in the mining firm. To Page 3

Monetary policy rate reduced to 9.25 p.c Story on Page 3

832 Cases 10 0 0 900 800

Covid-19 stats

70 0

Total test

600

Cases

135,000

50 0 475

Over 100 shops were gutted in Mongu on Tuesday. Story on P.3 Recovered

14,229 3,994

Deaths

New Cases

680 745

Egypt

450

13,753

425 400 375 350 325

275

225 20 0 175

197

7

60

Covid-19 update Cases

300

250

832

Zambia

• • • • •

Deaths

Discharged

832 total cases recorded 495 tested in the last 24 hours 5 patients discharged 60 new cases in the last 24hours 197 recovered

150 125 10 0 75 50 25 0 Days

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56

Burundi election: Facebook, Twitter, WhatsApp blocked BURUNDI has blocked social media platforms on election day as voters choose a leader to replace long-serving president Pierre Nkurunziza. The BBC has confirmed that Facebook, WhatsApp and Twitter are not accessible. Only those using Virtual Private Networks (VPN), which mask a user's identity, can access the social media sites.

The authorities have not responded to requests for comment. Polling stations for the election opened early on Wednesday morning. The build-up to the poll - in which seven candidates are vying to replace President Nkurunziza - has been marred by violence and accusations that the vote will not be free and fair. - BBC


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