Barrick Gold loses appeal vs 160bn/- tax evasion ruling

[Freelancer]

Wewe ni mmoja wa wale ambao mko tayari kulishwa uongo wa aina yoyote ile na mtakaa kimya na kuukubali uongo huo kwa sababu tu hamtaki kufuatilia mambo mbali mbali yanayoendelea nchini. Ungekuwa unafuatilia ungejua kwamba kesi hii iko mahakamani siku nyingi kabla ya mtukufu wa Ikulu kuingia madarakani na kusema ukweli kwamba ni uongo kutaka kumpa sifa Magufuli hakutuondoi kwenye mjadala husika. Kuwa mfuatiliaji wa mambo yanayohusu nchi yetu ili uweze kugundua uongo wa aina moja au nyingine. Na hii si ligi Mkuu kuufanananisha mustakabali wa nchi na ligi ni makosa makubwa sana.

Nimesema sawa mbona bado povu? Unahangaika kuandika maneno mengi..Umeshinda..

 

[BAK]

Unaandika pumba humu halafu unataka usiambiwe. Hakuna anayehara humu lugha zako za kutaka kuonyesha wewe ndiye unayeandika mambo ya maana na wengine wanahara hazina nafasi humu.

Kama hupendi michango ya akina Salary Slip na wengineo basi pita kimya kimya badala ya kutaka kuwadhalilisha kwamba wanakuja kuhara kwenye threads. Na kwa taarifa yako sitafuti ushindi humu wa namna moja au nyingine.

Wewe bado unahangaika na mimi tu? Mbona nishakupotezea kitambo.

 

[jingalao]

Hatimaye sasa tunashinda kesi

 

[joshydama]

Whether you agree or disagree, it's your quod erat demonstrandum and that has got nothing to do with the facts "Hapa Kazi Tu, Hatua Mbili Mbele".

Haya Mkuu!

 

[kabanga]

Watalipa au watakata rufaa....??

 

[BAK]

Ungejua kuhusu mimi usingeandika huu upuuzi kwamba hakuna ninachokijua kwenye uzi huu. Kutaka kumpa credit Magufuli katika kesi ambayo yeye hahusiki hata chembe si sawa hata kidogo. Ukweli lazima siku zote usemwe bila kuficha.

Usimpe nafasi ya kujibizana na wewe, jaribu kumpuuza! Kwa sababu hana jambo analolifahamu kwenye huu uzi zaidi ya kushupaa.

 

[Freelancer]

Jaribu kupotezea!

Nishapotezea mkuu ndo maana meseji ya mwisho sikuijibuu teh teh teh

 

[kemi2011]

Great news! Big up Court of Appeal Tz for such a beautiful ruling!

Investors should always observe and abide to the laws of the country.

 

[leonaldo]

LONDON-based giant gold mine company, African Barrick Gold Plc (AB G), has once again lost its appeal against being found to have evaded tax for four years consecutively from 2010, amounting to 81,843,1327 US dollars (over 160bn/-).

This follows the decision of the Court of Appeal to “strike out” the appeal AB G, the appellant, currently known as Acacia PLC, had lodged to fault the judgment issued on March 31, this year, by the Tax Revenue Appeals Tribunal on the matter.

Justices Edward Rutakangwa, Salum Massati and Stella Mugasha ruled in favour of Commissioner General with Tanzania Revenue Authority (TRA) after observing that the appeal by AB G was incompetent for failure to include key documents in the records, like documentary evidence tendered at the trial.

According to the justices, there was no gainsaying here that the omission to include the documentary evidence tendered at the trial does offend against the mandatory provisions of Rule 96 (1) (f) and (2) of the Rules, which is clear and elaborate on what the record of appeal should mandatorily contain.

“We have no flicker of doubt in our minds that these documents are very necessary for conclusive determination of the appeal. Being core or primary documents in this appeal, failure to incorporate them in the record renders the (same) incurably defective and the appeal incompetent,” they declared.

Among such documents were affidavits read and all documents put in evidence at the hearing, the order if any giving leave to appeal, the memorandum of appeal, record of proceedings, the judgment or ruling, the decree or order and the notice of appeal.

The AB G business entities in Tanzania, include Bulyanhulu Gold Mining Limited, North Mara Gold Mining Limited and Pangea Minerals Limited, which operates the Tulawaka and Bunzwagi Gold Mines.

It had declared dividends in UK to its shareholders on the income generated from gold mines operated in Tanzania amounting to 412,504,257 US dollars for 2010 to 2013 years of income.

However, the AB G declared to have incurred loss in Tanzania, where the three gold mine companies operate. Nevertheless, the Tribunal composed of three members under the chairman of High Court Judge Dr Fauz Twaib had stated in its judgment dated March 31, 2016; “Indeed, we share the (Tax Revenue Appeals) Board’s surprise as to how could this be possible,” said the Tribunal.

The Tribunal dismissed the appeal lodged by the company to challenge findings of the Board, saying it was inconceivable that AB G could pay so much money in dividends for four consecutive years, while its only assets were the three loss-making entities incorporated in Tanzania that do not make any profit. “The Board expected some clarification of this rather strange state of affairs and proof as to how it could be possible.

That proof, unfortunately, was not forthcoming from the appellant and its witnesses and counsel’s explanation fell short of an adequate discharge of relevant burden,” the Tribunal observed.

One important issue and which had attracted fierce criticism from the appellant’s counsel stems from the Board’s acceptance of the contention by the Commissioner General of the Tanzania Revenue Authority (TRA), the respondent, that AB G had serious plans to avoid tax.

The Tribunal found that the Board reached such conclusion relying on the fact that all the appellant’s subsidiaries in Tanzania were loss making and therefore not paying dividends to its shareholders and yet at the same time the AB G has consistently been declaring dividends.

“In the circumstances, it is fair to conclude that the respondent’s argument that the transactions were simply a design created by the appellant (AB G) aimed at tax evasion was justified,” the Tribunal declared.

According to the Tribunal, since the company’s only entities that carry on business anywhere in the world were the three Tanzanian gold-mining companies, the AB G’s only source of revenue that could create net profits retained earnings would be the three Tanzanian companies.

Source: Daily News

Muda wa kufukua makaburi umefika.

 

[Mr. MTUI]

Rate ya ukuaji wa huu uzi ni comment mbili hadi tatu kwa mwaka (SORY NDOGO SANA)..watu wamekimbiliz kwenye nyuzi za migegedo na misambwanda..

 

[Ngozi Joram]

Now at least we see the light even if by far

 

[jerrytz]

It is a good news, in my opinion it is time for TRA collect all the due tax that was not paid.
Also, this should not end with one company there is a need for extensive review on our tax collection system as well as to avoid these loopholes of tax evasion.