ZRA In Action Again.
The Zambia Revenue Authority (ZRA) yesterday served a warrant of distress on Homebase Hardware Limited of Lusaka for misclassifying and undervaluing imported glass worth K145, 000.
ZRA has since given the firm 10 days in which to settle the K145, 000 or face further action, which include seizure of property or indefinite closure. Home base Hardware is a direct importer of steel, glass and mirrors.
A team of ZRA officials in the company of police served the notice on Homebase, which was located on Freedom Way, at 09:00 hours and held a dialogue with manager Shahid Ali for close to an hour. Mr. Ali took the authorities through the company’s asset record while business went on with some passers-by stopping to have a gist of the incident. ZRA corporate communications manager Mumbuna Kufekisa later told journalists that Homebase had been cited for under valuating three consignments of glass imported through Nakonde Border recently.
The firm purported to have cleared the products, which included tinted and clear glass at the standard tax rate of 15 per cent when in fact not.
The first consignment of glass was worth K51, 788 while the second and the third were each pegged at K46, 800.
Mr. Kufekisa said the action taken on Homebase should be an eye opener for other importers to learn that under-valuation of goods was a disservice to one’s business.