Wed, 26 Oct 2016 11:13:38 +0000 ZAMBIA has been losing colossal sums of money through false fuel declarations by fuel marketers who claim to be in transit to the Democratic Republic of Congo (DRC) then divert the commodity back into the country once they pass the border point, says Energy Forum Zambia ( EFZ) chairperson Johnstone Chikwanda. Mr Chikwanda said the country was losing huge sums of money through false declarations by fuel marketers who claimed to be in transit to the DRC when, in fact, would instead divert the commodity back into the country once they passed the border. The gravity of false transit fuel declarations he said could not be underestimated especially in transit countries where fuel price taxation is relatively high such as Zambia due to its strategic location in the region. He said that evading such a huge tax burden had resulted in abnormal profit margins for the perpetrators and partial […]
