The Financial Intelligence Centre (FIC) in Zambia has successfully closed seven cases in collaboration with the Zambia Revenue Authority (ZRA), leading to the recovery of over K3.5 million. These cases were part of the K34.4 million in assessments issued to taxpayers between January and March
The Financial Intelligence Centre (FIC) has successfully concluded seven cases and recovered over K3.5 million. The FIC receives cases and information related to financial crimes, which are then investigated and audited for tax purposes. The progress and outcomes of these cases are reported to the FIC on a quarterly basis.
According to Oliver Nzala, the Corporate Communications Manager for the Zambia Revenue Authority, the authority is committed to investigating tax evaders and ensuring that they are held accountable for their actions. This may include assessing them for tax and prosecuting them for non-compliance with revenue laws.
According to Mr. Nzala, the FIC report recommends that cases be referred to the Anti-Corruption Commission (ACC) if there is suspicion of money laundering, with tax evasion as a predicate offence. This approach has led to successful outcomes and the recovery of significant amounts of money.
The Financial Intelligence Centre has successfully concluded seven cases and recovered over K3.5 million. In an effort to combat illicit financial flows, the Zambia Revenue Authority (ZRA) is collaborating with law enforcement agencies to share information and enforce domestic tax laws and policies. This will ensure that taxpayers pay their dues from their businesses and contribute to the country’s economic growth. The ZRA is committed to cracking down on financial crimes and promoting transparency in financial transactions.
