SOCIALITE and businessman Genius “Ginimbi” Kadungure, who is facing charges of tax evasion and smuggling, has offered a $400 000 monthly out-of-court settlement deal with the Zimbabwe Revenue Authority (Zimra) to clear his over $3,4 million tax liabilities.
Kadungure, who was represented by Jonathan Samukange, told deputy chief magistrate Chrispen Mberewere that his defence was about to reach an agreement with the State for an out-of-court settlement, but the deal was yet to be signed by both parties.
His lawyer could not confirm or deny the deal.RELATED ARTICLES
But the State, represented by Lovert Masuku, confirmed that there was a deal in the offing and consented before the court to postpone the matter.
Mberewere postponed the matter to March 10.
Allegations are that between February 2009 and May 2016, Kadungure, being a director of Piko Trading, evaded paying tax and falsified financial statements that they sold gas worth $3 194 329, including value-added tax (VAT), while in actual fact, the total sales figure was $24 187 026.
Zimra was reportedly prejudiced of $2 512 149.
Kadungure is also being charged with smuggling 5 289 kilogrammes of liquefied petroleum gas into Zimbabwe, prejudicing Zimra of $672 533 in customs duty.
He is also accused of failing to remit his employees tax contributions amounting to $355 559 to the tax collector and the other charge of neglecting to furnish files or returns required by the commissioner of taxes, as defined by the Income Tax Act. NewsDay