Government has been prejudiced in excess of $3,5 billion by company directors who shut-down their firms in order to avoid payment of taxes only to re-establish themselves under different trading names.
This was revealed by Finance minister Mthuli Ncube in the National Assembly last month during the debate on the Finance Bill.
Ncube is proposing the insertion of a harsh clause to the statutes to hold devious directors of companies that are wound up or declared insolvent liable in their personal capacities.
Lawmakers have taken great exception to the proposal which says a director in a company that goes bust and is declared insolvent is immediately liable for the tax liabilities of…
Read the full article at: https://bulawayo24.com/index-id-news-sc-national-byo-152962.html