DAILY
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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
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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