27 October 2016 Last updated at: 1:59 PM
ZTE in hot soup over tax evasion in Malawi
The Malawi Revenue Authority (MRA) has conducted a search at the business premises of ZTE (MLVV) Limited and ZTE Lilongwe Corporation Limited in Lilongwe.
According to Malawi Revenue Authority Deputy Director of Corporate Affairs Steven Kapoloma, the operation was on suspicion of offences of non-remittance of various types of domestic taxes.
“The search resulted in the seizure of some financial source documents from the companies,” said Kapoloma.
“The operation follows a tip-off from well-wishers, alleging that ZTE (MLVV) Limited and ZTE Corporation Lilongwe Limited, owned by Mr Liao Liang/ Liao Lungu, are not remitting correct amount of taxes to Malawi Revenue Authority in form of Value Added Tax (VAT), Income Tax, PAYE and Withholding Tax,” Kapoloma added.
Meanwhile, investigations are still underway and once completed prosecution of all accused persons will follow accordingly.