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“Apart from prejudicing the revenue authorities, Econet Wireless was also illegally externalising foreign currency through over-invoicing using a sister company registered in Mauritius and this matter has been reported to the Reserve Bank of Zimbabwe.
We are instructed to inquire from yourselves as to what amount has been recovered from Econet Wireless as our client believes the prejudice for the revenue authority is in excess of three hundred million dollars (US0 000 000.)” Mr Pasi is directly implicated by auditors.
The dates for Orthodox Easter Sunday shown above are for the Gregorian calendar equivalent, i.e. The Julian calendar date Thursday October 4, 1582 was followed by the Gregorian calendar date Friday October 15, 1582. In some years the Orthodox Easter Sunday occurs on the same day as the Western Easter Sunday.
HLB Zimbabwe Chartered Accountants said evidence presented by Mr Matambanadzo suggested that Econet imported 59 582 base stations when the actual number of base stations it owned was less than 2 500.
“This points to the fact that the 57 082 which were imported by Econet were classified as base stations when they were not base stations hence the 57 082 were imported duty-free to the detriment of the fiscus,” reads part of the audit.
According to the report, Government could have lost about US0 million in revenue between 20 after Econet allegedly imported dutiable goods without paying taxes.
To promote ICTs, Government allowed mobile network operators to import base stations duty-free.
I can assure you that the board will act on all issues raised by the forensic auditors and we actually have already started doing so.