|
DHL probed for tax evasion |
 |
 |
 |
|
Friday, 29 June 2012 14:17 |
 Express logistics company, DHL Zimbabwe, is under investigation by the Ministry of Finance through the National Economic Conduct Inspectorate for tax evasion.
The local branch of the international logistics firm headquartered in Germany could face up to $2 million in fines for tax evasion on offshore salaries according to inside information from sources in the Ministry of Finance.
The company is alleged to have paid some of its senior managers through offshore accounts without remitting tax and is also accused of other economic misdemeanours.
Contacted for comment, DHL Head of Advertising and Public Relations for Sub Saharan Africa, Lee Nelson said the firm is cooperating with the National Economic Conduct Inspectorate on the issue without disclosing much detail.
Meanwhile, the logistics company submitted an indigenisation proposal that failed to comply with government’s requirements.
Youth Development, Indigenisation and Empowerment Minister, Saviour Kasukuwere said the National Indigenisation and Economic Empowerment Board is now in consultations with the firm.
Documents in possession of ZBC News show that under the rejected proposal, management had been allocated more than the regulated 5% shares while the employee share scheme was allotted more than the allocated regulated 28%.
The proposal also failed to disclose the identity of a third party who would take up the balance of shares.
 |
