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Tanzania Anti-Corruption Agency accuses Acacia subsidiary of tax evasion and making 190 billion tax form

iconOct 18, 2018 13:46
Source:SMM

SMM10 17-Acacia Mining, Tanzania's largest gold producer, confirmed on Wednesday that one of its employees and a former employee had been detained by the country's anti-corruption authorities, according to local media reports.

Barrick's subsidiary has faced a series of charges, including tax evasion and illegal operations, since a ban on concentrate exports came into effect in March 2017, prompting authorities to question employees and even prevent one of the company's executives from leaving the country.

To make matters worse, President John Magufuli of Tanzania issued a $190 billion tax bill for the company in July.

Acacia Mining owns and operates the three largest mining companies in Tanzania-Bulyanhulu, Buzwagi and North Mara. The company has repeatedly denied any improper economic crimes. The outcome of the incident is open to question.

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