Tue, 01 Aug 2017 11:01:53 +0000 ZAMBIA Revenue Authority has frozen MTN Zambia bank accounts for alleged fraudulent activities including failure to pay taxes amounting to over K95 million in Value Added Tax and penalties. MTN Zambia woke up to a rude shock on 24th July, 2017 when they could not access their accounts at FNB Bank Zambia, Stanbic Bank and Stanchart Bank as the facilities had been frozen. This was after the taxman had earlier rejected an appeal from MTN against a Notice of Assessment in the sum of K95,413,369 in unpaid taxes, penalties, interest and lieu of prosecution due to delayed payment. Last year, MTN Nigeria was in a similar situation as the yellow mobile service provider was fined USD 3.9 million for failing to comply with SIM registration procedures and regulations in the West African country. ZRA issued a demand notice in the amount of K95,413,369 as due payment owed under the […]
