ZAMBIA Revenue Authority (ZRA) Commissioner General Kingsley Chanda says it is not true that the authority has paid K95 million in tax refunds to Konkola Copper Mine (KCM) to pay legal fees.
But Chanda says all duly audited and verified VAT claims due for payment by Government to KCM will be offsets against the company’s outstanding liabilities.
In a statement, Chanda said that KCM was still a going concern and continued to meet its tax obligations.
“The position of the Authority is that no such payment has been made to KCM. As indicated in our earlier statements on VAT refund to KCM, that the company owes ZRA more than what the Authority owes it. Thus all duly audited and verified VAT claims due for payment will be offsets against the company’s outstanding liabilities. ZRA has therefore NOT paid KCM any purported refund as alleged,” said Chanda
MultiChoice Launches the Mwatipanga Campaign;
IN celebrating their 25th anniversary, MultiChoice Zambia has launched the #Mwatipanga Campaign.
The campaign is aimed at celebrating 25 years of Enriching Zambian Lives by recognizing the MultiChoice family; including customers, agents, installers, employees and everyone that is part of the MultiChoice Zambia family. During the campaign, which is scheduled to run from August to December 2020, customers can look forward to being part of exciting activities including free subscription, surprise giveaways and so much more. To learn more, visit the DStv and GOtv Facebook pages.
Beirut explosion kills New Horizons Printing Director
THE massive explosion that ripped through a port in Beirut, Lebanon on Tuesday has killed a Director of Zambia’s New Horizons Printing Press(NHPP)based in Lusaka.
A source close to the family has confirmed that his brother, Nehme was killed in the explosion as he lived near the area where it occurred.
A large blast in the Lebanese capital, Beirut, has killed at least 70 people and injured more than 2,700 others.
Shawky and Nehme are Directors of NHPP and
Shawky represents Zambia as Honorary Consul General in Beirut.
NHPP was founded in February 2000. It employs over 300 people.
The business started commercial printing such as catalogues, magazines, brochures and books and since then we have been re-investing into this industry in various diversified sectors.
NHPP also introduced state-of-the-art machineries to print paper bags packaging for application like sugar, flour and mealie meal as well as other industries.
Videos showing smoke billowing from a fire, then a mushroom cloud following the blast at the city’s port have emerged.
Officials are blaming highly explosive materials stored in a warehouse for six years as the cause of the massive explosion.
72 per cent of Zambian businesses are unable to raise funds due to COVID-19, FSD Zambia
HIGHLIGHT results of a survey on the financial impact of COVID-19 on Micro and Small Enterprises (MSEs) conducted by FSD Zambia in collaboration with BFA Global show that Zambian businesses critically need working capital, with 72 per cent of businesses unable to raise funds.
This is according to a statement released by FSD Zambia Head of Communications, Eneyah Phiri.
Phiri states that the research, which was aimed at understanding the economic situation from the perspective of MSEs, shows that about 40 per cent of MSEs are seeing a significant decrease in revenues.
“The survey was also designed to assess MSE digital readiness as a method to limit the impact of COVID-19. Despite these odds, most MSEs foresee continuing operations. They are confident that their business revenue is enough for the same level of production and are optimistic about recovery” Phiri said.
As recent studies have shown, the lowest income segments are particularly vulnerable to the economic impact of the coronavirus pandemic and the resulting economic slowdown. The survey by FSD Zambia and BFA Global was conducted to better understand the effects of the crisis on MSEs in the country.
Meanwhile, FSD Zambia Chief Executive Officer, Betty Wilkinson, said, “The key issue of gaps in working capital is important. So is the optimism and commitment of small firms to stay alive through the challenging COVID-19 period. FSD Zambia will be looking for options to help financial institutions grow working capital loans and expand our own Working Capital Access project to help these enterprises survive and thrive.”
The results of the survey will help FSD Zambia, Government and other financial market players to fill the gap in digital technology, to facilitate commerce not only in the time of COVID-19 but in the near future. As MSEs are encouraged to adopt the use of digital platforms, partnerships among key stakeholders of the sector should aim to improve internet connectivity issues, technological infrastructure and lower prices of digital financial services.