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Tanzania Issues $190 Billion Tax Bill To Acacia. A Game Changer For Acacia's Future In The Country

Africa | Tanzania July 25, 2017

On July 24, 2017, Tanzania Revenue Authority, TRA, issued a $190 billion tax bill to Acacia Mining. The tax bill entails unpaid taxes, penalties, and interest, from 2000 to 2017. More specifically, on the basis of TRA assessments, Acacia Mining owes the government of Tanzania $40 billion in unpaid taxes, and $150 billion in penalties and interest over the past 17 years. Acacia is reported to have disputed the assessment. Notwithstanding, the tax bill could be a game changer for Acacia's future in Tanzania. It could even imply the end of its operations in the country, if for instance, it does not agree to pay at least the unpaid taxes of $40 billion. _____________________________ © 2015 - 2017 Africauptodate. All Rights Reserved