Forensic audit of KCM will help govt make tax demands-Scott

[LesCrozes]

Forensic audit of KCM will help govt make tax demands-Scott
By Moses Kuwema
Thu 12 June 2014


VICE-PRESIDENT Dr Guy Scott says the forensic audit on Konkola Copper Mine will help the government make tax demands.

In an interview, Vice-President Scott said Norway had so far pledged to give the Zambian government experts to help with the forensic audit of KCM.

"Norway is giving us experts to help with the forensic audit. We cannot just send tax demands without any figures based on the audit. So it is something that we are determined to do and we even have the backing of the International Monetary Fund," said Vice-President Scott.

And Norwegian Ambassador to Zambia, Arve Ofstad, said his country was in dialogue with the Zambia Revenue Authority to determine what form of support they could provide.

"It is already well known that Norway supports the Zambia Revenue Authority (ZRA) to increase the capacity and improve the technical and professional competence of ZRA to assess the correct taxes to be collected from the mining sector. For this purpose, Norway's assistance is focused on support to the Mining Unit of the Large Taxpayers Office in the ZRA. Norway provides and supports various training programmes, and provides advice to the ZRA teams when they undertake tax audits as part of this ongoing programme," Ambassador Ofstad said.

Ambassador Ofstad said in connection with the controversy regarding KCM, Norway was willing to provide additional support to ZRA if necessary for purposes of the forensic audit.

KCM owner, Anil Agarwal, recently revealed that he bought the mine, whose asking price was US$ 400 million, for a paltry US$25 million.

During a March 22-23 Jain International Trade Organisation connect conference in India, Agarwal, owner of Vedanta Resources, which is the majority shareholder in KCM, mocked the Zambian government over the US$25 million he paid to buy the mine, which is now giving him hundreds of millions of dollars in profit.

The government, through the ZRA, has since notified KCM over its intentions to carry out a forensic audit of the mine from the period 2007 to date.

http://www.postzambia.com/post-read_art ... leId=50144

[mbury]

KCM: des années passées, on connaît les volumes vendus (du moins ceux déclarés), les coûts de production unitaires (que KCM communiquait chaque année)... à partir de là, à la louche, on se rend bien compte qu'il y avait un lézard qq part, car cela faisait de sacrés bénefs pour Vedenta...dont ZCCM-IH n'a jamais rien vu! Il est vrai que KCM investissait beaucoup dans KDeep, mais Vedanta aurait dû y injecter de l'argent, ou du moins le laisser en réserve en Zambie.
Que justice soit maintenant faite.. (voeux pieux???)
MB