FQM proving Zambia erred on $8B tax bill

ABOUT six weeks ago, First Quantum Minerals received an assessment by the Zambia Revenue Authority demanding K76.5 billion (about US$8 billion) comprising $6 billion in interest and $2 billion in penalties on the $150 million assessment claim on duties.

FQM proving Zambia erred on $8B tax bill FQM proving Zambia erred on $8B tax bill FQM proving Zambia erred on $8B tax bill FQM proving Zambia erred on $8B tax bill FQM proving Zambia erred on $8B tax bill

First Quantum president Clive Newall

It was the subject of last month's African Angle column and Barry Avery follows up on this somewhat extortionate stunt being pulled by President Edgar Lungu's cash-hungry taxation office.