Econet Cleared Of $100 Million Tax Evasion Case

4 years agoFri, 01 Mar 2019 08:23:07 GMT
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Econet Cleared Of $100 Million Tax Evasion Case

Telecoms giant Econet Wireless was on Thursday found not guilty of tax evasion by the Supreme Court.

The Zimbabwe Revenue Authority (ZIMRA) said that it was owed $100 million by Econet in unpaid taxes. The case goes as far as 10 years back.

A panel of judges, led by Chief Justice Luke Malaba, ruled in favour of Econet Wireless.

Speaking to Newsday from South Africa, Econet’s lawyer Tawanda Nyambirai said:

Zimra had garnished Econet’s bank accounts to the tune of $61 million in December 2013. There was a media frenzy with allegations that Econet had evaded duty and amounts of up to $300 million were mentioned.

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Rather than fight the allegations in the media, Econet applied to the High Court, which struck down $47 million of the amount claimed by Zimra.

The Supreme Court bench, led by the Chief Justice (Malaba), (ruled) in favour of Econet. I do not see this as a victory for Econet alone. It is a victory for all victims of cyber-bullying.

Econet was tried and condemned in social media! Any humble protestations of innocence were drowned in baseless abuse and condemnation where the basic principles of innocent until proved guilty were thrown out of the window.

Some of these attitudes are caused by the economic hardships that we continue to face as a nation. I can only wish for the speedy recovery of our economy and the restoration of values of integrity and respect for the rights of others.

More: Newsday



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