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10 Jun, 2020 | Posted By: Staff Reporter
Ginimbi Found Guilty Of Tax Evasion

BUSINESSMAN Genius Kadungure’s company, Piko Trading, was yesterday found guilty by a Harare magistrates on two counts of tax evasion involving nearly $3 million .

Piko Trading, which supplies gas, was charged with two counts of tax evasion and smuggling while Kadungure faces allegations of failing to declare income tax amounting to $119 860 in his personal capacity.

Kadungure, representing his company, admitted to failing to pay VAT between February 2009 and May 2016, prejudicing Zimra of $2 512 149. The company also admitted to failing to declare company tax leaving Zimra $355 559 short. This was after Piko Trading had pocketed $24 187 026.

According to the penalty provisions, Piko Trading is likely to be ordered to pay the shortfall in taxes plus a fine equivalent to the shortfall, plus interest.

Piko Trading, however, denied smuggling 5 289kg of gas into the country while Kadungure also denied failing to declare income between 2010 and 2015 that would have resulted in extra income tax of $119 860.

The State led by Mr Andrew Kumire alleged that Piko Trading between January 2015 and March 2016 smuggled about 5 289kg of liquefied petroleum gas into the country, and so di not pay $672 533 in taxes.

Further, Kadungure is being charged in his personal capacity for failing to submit documents about his income to the Commissioner of Taxes from January 2010 to December 2015 as required by the Income Tax Act, giving rise to the charge of failing to pay $119 860,93.

Kadungure denied these two charges and he and his company are expected back in court tomorrow for trial continuation.

During tomorrow’s hearing, the State and Kadungure’s legal team led by Jonathan Samukange are expected to furnish the court on details over the outstanding two charges.


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