Zambia asks Glencore’s Mopani to pay back the money it stole in tax evasions


Controversial commodities giant Glencore today faced further questions over the way it does business around the world after Zambia demanded its Mopani copper mines pay more taxes to make up for underpayment in previous years. The Zambian government called in accountants Grant Thornton to investigate the tax affairs of the country’s second-biggest miner last year. The report found Mopani underpriced the value of copper it sold to its sole customer – Glencore – to reduce its tax bill. Other alleged practices in the report include inflating personal costs. Zambia has asked the company to pay the taxes it “evaded” voluntarily. And in a separate interview with Reuters, Zambia Finance minster Situmbeko Musokotwne said, even though Zambia Revenue Authority has asked Mopani to pay more money in underpaid taxes, Mopani must be given a chance to respond. Musokotwane did not detail how much was owed, but he said Mopani had been asked to pay more.

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