Economy

Mahtani Dodges Taxes at Zambezi Portland Cement

A newly leaked document related to the Ndola-based Zambezi Portland Cement (ZPC) company shows that under the disputed control of local financier Rajan Mahtani, the company has failed to pay taxes dating back to December 2014.

According to a sealed letter dated 30 March 2015 from the Zambia Revenue Authority (ZRA), the company has failed to pay both its Mineral Royalty taxes and PAYE over certain past periods. Meanwhile, the former owners claim that Mahtani has stolen as much of $100 million in profits from the company over the past three years.

The letter states: “We wish to adivse that the following Tax returns for the stated periods below have not been submitted contrary to Section 46(1), 46(2), and 46(3) of the Income Tax Act. Please be informed that these returns are late and you will be charged penalties for each period the return remains NOT submitted as prescribed by part (v) of the Income Tax Act.”

According to PACRA documentation, the directors of the company – whose appointments are disputed by the company’s original owners – are listed as Rajan Mahtani, Joan Craven, Peter Kanaganayagam, Timothy Mushibwe, John Mambo, Dumisani Tembo, and Inonge Wambulawae, and would be the ones responsible for the payment of taxes during the cited period.

However in recent weeks the company has been affected by numerous changes in management as the long-running legal dispute for control of the company has heated up. In late March, Bishop John Mambo stepped down from ZPC, allegedly to begin a series of hostile attacks against President Edgar Lungu at Mahtani’s instruction. Peter Kanaganayagam decided to leave the country once the courts ruled to revoke the deportation orders against the company founders, and was replaced by Stephen Mutambo, formerly of Maamba Collieries Limited (MCL).

The tax dodge takes place at a moment in which ZPC continues to produce valuable returns. According to a company press release from February 2015, “the year 2014 the total output for ZPC was registered at 4, 73, 985 tonnes. Inspired by this successful outcome, Dr. Mahtani has confirmed that he will soon be opening a lime plant in Masaiti along with making employment arrangements for 150 people within the next two years.”

However critics of Mr. Mahtani indicate that there is a past track record of taking over companies to strip them down.

“This is a typical Mahtani tactic – steal control of a valuable asset, and then bleed it dry,” said one disgruntled employee at ZPC contacted for this article. “He has invested nothing in ZPC since taking over, and the plant has deteriorated, the quality control is down, and safety has become hazardous. The same can be said of the Radisson Blu Hotel – he invests nothing in maintenance, and just takes money out.”

34 Comments

  1. manyoni

    Nice findings but what do they bring if justice take a decade to previl.Time will tell.

    • Jennifer Chishala

      Is Mahtani back in Lusaka? Has DEC dusted the files on Mahtani’s money laundering activities in Zambia and Malawi?

  2. kalampa 4 lyf

    For how long are going to continue talking about this illuminati.

    • Rockid

      Rubbish delays in submitting tax returns are normal. Talk issues not delays

      How many of you have paid up your taxes and done your returns.

      If he failed to submit and pay for the whole year, there would be reason to worry

      • Ben

        Just like non paying tax by the cartel is normal? Mahtani is a flight risk for sure.

  3. Koswe

    Please leave Mathani alone you biological idiots filled with jealous. How man times are you going to attack this great citizen who has helped your skins to have a meal? As the bible says, it’s a curse to be born black. When Noah’s son laughed at his father’s nakedness, he was cursed and so were his descendants. You are filthy and smelly in your own cursed skins because you dont find anything good in a successful man. Even Zambians living abroad they hate each other like serpents. The only greater thing that has come out of blacks is witchcraft so often is transported abroad to be used against their own brothers and sisters. My white wife is becoming fed up of this slander and black thinking. Change your way of life you biological mistakes.

    • 0.0 %

      ——–\
      ——-/ ndiwe wamboza!! u a serpet yoself.

      • Chintu

        Bring Peter Kanaganayagam back to Ndola. He has to account for all theft from Portland Cement. Send a request to Australian government to get him back to account for missing millions.

    • Cycle Mata

      It is disgusting to read such from a sojourner in our land. Well, we the blacks are catching up and about to unseat your corrupt thief mathani.
      I see you ar a pagan who doesn’t even know the Bible story you have referred to. The black man does not originate from Ham father of the cursed Canaan.
      Further, God didn’t give you the skin colour you have for insulting other skin colours. You will account for deeds at an appointed time. If any thing, Africans are the poor that they are because of the harsh past we have gone through, imposed upon us by other races. May the God I serve reward you for the insults accordingly.

    • sentinel watch

      Koswe, just because you have a white skin after your ancestors had sex with a pig to have your colour is not an excuse to insult people with black skin. You are basically a pig and your insulting culture points to that. By the way what are you doing here. Go back and join your fellow Ku klax clan. They are waiting for you.

  4. Fakson banda

    Good to see that zpc is able to pay usd 100 million in taxes. Have the Ventriglias ever declared so much when they where running the plant?

    • Cycle Mata

      These are not declared taxes but assessed taxes and penalties for not submitting. These will bd adjusted up or downwards when the due returns are made.

  5. KILLA D

    Comment. Koswe is right! Atleast mahtan employs a comended numbr of our fellow citizens unlike these bastards who only think of themselves,equally my swedish fiancee nt only doesn’t she wnt 2 reside in dat miserable part of de world bt also sorry to de fact dat she’s marryin some1 frm there. Who doesn’t knw dat de pf`s agenda is to kill strong competitors n opponents,pathetic!!

  6. Fakson banda

    As Zambians we want to know how much the Government will get? We are all seeing people fight over this factory. This means there is a lot of money and as Zambians we are suffering while stone from our land is turned into cement with our people working hard and we see no benefit from it.
    This is why we voted Banda out !

  7. kwandangala

    The KG squared had informed people two weeks ago about what is going to take place @ zambezi porland cement. Pipo thought it was a joke. This morning, people were greeted with a smiles by Tony and sons who looked so happy to see their workers reporting for work. No violent was recorded like what was reported in watch dog. Operations was normal, only few individuals who were trying to be arrogant were asked to leave the site to avoid problems. We worked well till da tym of knocking off. Pliz, avoid listening to fake and rubbish stories from certain media who not mean well to our beloved country Zambia. The KG squared ll keep u up date for all the happening @ zpc. As for now, be informed that even those workers who were fired for no reason has been recalled. what more do you want these people to do to our brothers n sisters who lost their jobs 2years go ?

  8. babylon

    dont divert our attention 2something that does not benefit our families plz talk about our crambling economy.the dolar is almost turning our kwacha into a toilet tisue.pf plz how are u driving us we are almost plunging into the ocean,plz dont sleep,remove chikwanda and hire magande

  9. KILLA D

    Comment. Donchi kubeba my ass! We were fooled…

  10. Junta Leader

    Some of you who write in favour of this crook Mahtani should be ashamed go yourselves. You do not deserve to be born black and Zambians. You would sell your mothers and sisters into prostitution. How can you defend a bloody thief who is robbing our nation by bribiry and corruption.? Go marry Mathani’s daughter. See if this crook will let YOU MARY HER.

  11. FBworker whose pension Mahtani chewed

    Let us Zambians be patriotic on this issue. It is a non-partisan issue. I for one know Mahtani never paid property transfer tax on many properties he transferred within Mahtani group to play around with transfer of profit without paying tax. He overvalues properties and transfers to profit making companies and siphons off profit without paying (1) Property transfer tax (2) corporate tax on profit made in profit making company (3) dividend tax, if he would have normally taken the money instead of creative accounting that he resorts to. In addition he has never paid a single ngwee on Finance Bank and Finsbury Investment share transfer that he did many times from Finsbury Investment to Loita and Credit Suisse and then back to himself and phoney holders. Capital transfer tax alone runs into millions of dollars. ZRA shall dig deeper and recover all evaded tax with penalties and interest.

  12. Lekhraj

    @FB worker, You are not alone who lost due to Mahtani’s nefarious activities. Time for him to repay. ZRA shall recover all monies due from the directors of the company that he installed after getting Ventriglia family out.All taxes, dues and penalties shall be recovered from him and other directors sitting on the board of ZPC and if need be sell Finance Bank to pay off the debt of ZPC. ZPC shareholders (Ventriglia family) shall sue the PACRA filed directors for all acts of omission and commission. Take the last penny from the Kaponya.

  13. RashidMukadam

    Fed up of this Mwene. Just cage this idiot along with all his coterie of Joan Craven Mary Schultz, Reverend Schultz, Barkat Ali, Peter Kanaganayagam, Timothy Mushibwe and John Mambo. They are all thieves and conmen.

  14. S Mwape

    Mathani left for easter holidays and Ventriglia took over ZPC. Happy Easter Dr. Mathani. Time to poo is now.

  15. Peace

    Peace

  16. Chileshe Akamuponona

    Koswe chinyo cha noko, chikala cha wiso.

  17. Koswe

    @Sentenel Watch, your comments are out of touch with reality. You are creating a hurricane out of a cup and expect to put your point in a positive perspective. To begin with, am a pure African even though I dont believe so much in deeply rooted politicization of our internal affairs. The fact that I was born mixed race is premise for you to launch a nauseating attacks on me. It is a point of fact that Africans have lamentably failed their own economies. They are cursed to be poor, disorganized and inherently backward. We are the only continent where corruption is part of our norm. There is so much sexual immorality that has triggered an earthquake of HIV/AIDS. Violent crimes are super high. Do you still want to blame whites for all these ills? I guess not unless there is terribly wrong in your brain. My white wife was extremely disappointed.

  18. kalampa 4 lyf

    I didnt know that this issue has anything to do with race.If race is the factor then we shall be worse of than Germany in the third reich,Serbia,Croatia ,Kosovo & Rwanda.Lets be mature & be tolerant of other people’s views.Mathani has been in Zambia before even some of us were born,well he has contributed greatly to this nation,no one can take that away from him.I wont condemn him because of the colour of his skin but as a human being.There are also black Zambians who have exceled in commence & businesses but if they are dubious in their deals will I support their evil actions because they are my kinsmen or of the same race?

  19. kolwe

    A newly leaked document related to the Ndola-based Zambezi Portland Cement (ZPC) company shows that under the disputed control of local financier Rajan Mahtani, the company has failed to pay taxes dating back to December 2014.

    According to a sealed letter dated 30 March 2015 from the Zambia Revenue Authority (ZRA), the company has failed to pay both its Mineral Royalty taxes and PAYE over certain past periods. Meanwhile, the former owners claim that Mahtani has stolen as much of $100 million in profits from the company over the past three years.

    The letter states: “We wish to adivse that the following Tax returns for the stated periods below have not been submitted contrary to Section 46(1), 46(2), and 46(3) of the Income Tax Act. Please be informed that these returns are late and you will be charged penalties for each period the return remains NOT submitted as prescribed by part (v) of the Income Tax Act.”

    According to PACRA documentation, the directors of the company – whose appointments are disputed by the company’s original owners – are listed as Rajan Mahtani, Joan Craven, Peter Kanaganayagam, Timothy Mushibwe, John Mambo, Dumisani Tembo, and Inonge Wambulawae, and would be the ones responsible for the payment of taxes during the cited period.

    However in recent weeks the company has been affected by numerous changes in management as the long-running legal dispute for control of the company has heated up. In late March, Bishop John Mambo stepped down from ZPC, allegedly to begin a series of hostile attacks against President Edgar Lungu at Mahtani’s instruction. Peter Kanaganayagam decided to leave the country once the courts ruled to revoke the deportation orders against the company founders, and was replaced by Stephen Mutambo, formerly of Maamba Collieries Limited (MCL).

    The tax dodge takes place at a moment in which ZPC continues to produce valuable returns. According to a company press release from February 2015, “the year 2014 the total output for ZPC was registered at 4, 73, 985 tonnes. Inspired by this successful outcome, Dr. Mahtani has confirmed that he will soon be opening a lime plant in Masaiti along with making employment arrangements for 150 people within the next two years.”

    However critics of Mr. Mahtani indicate that there is a past track record of taking over companies to strip them down.

    “This is a typical Mahtani tactic – steal control of a valuable asset, and then bleed it dry,” said one disgruntled employee at ZPC contacted for this article. “He has invested nothing in ZPC since taking over, and the plant has deteriorated, the quality control is down, and safety has become hazardous. The same can be said of the Radisson Blu Hotel – he invests nothing in maintenance, and just takes money out.”\A newly leaked document related to the Ndola-based Zambezi Portland Cement (ZPC) company shows that under the disputed control of local financier Rajan Mahtani, the company has failed to pay taxes dating back to December 2014.

    According to a sealed letter dated 30 March 2015 from the Zambia Revenue Authority (ZRA), the company has failed to pay both its Mineral Royalty taxes and PAYE over certain past periods. Meanwhile, the former owners claim that Mahtani has stolen as much of $100 million in profits from the company over the past three years.

    The letter states: “We wish to adivse that the following Tax returns for the stated periods below have not been submitted contrary to Section 46(1), 46(2), and 46(3) of the Income Tax Act. Please be informed that these returns are late and you will be charged penalties for each period the return remains NOT submitted as prescribed by part (v) of the Income Tax Act.”

    According to PACRA documentation, the directors of the company – whose appointments are disputed by the company’s original owners – are listed as Rajan Mahtani, Joan Craven, Peter Kanaganayagam, Timothy Mushibwe, John Mambo, Dumisani Tembo, and Inonge Wambulawae, and would be the ones responsible for the payment of taxes during the cited period.

    However in recent weeks the company has been affected by numerous changes in management as the long-running legal dispute for control of the company has heated up. In late March, Bishop John Mambo stepped down from ZPC, allegedly to begin a series of hostile attacks against President Edgar Lungu at Mahtani’s instruction. Peter Kanaganayagam decided to leave the country once the courts ruled to revoke the deportation orders against the company founders, and was replaced by Stephen Mutambo, formerly of Maamba Collieries Limited (MCL).

    The tax dodge takes place at a moment in which ZPC continues to produce valuable returns. According to a company press release from February 2015, “the year 2014 the total output for ZPC was registered at 4, 73, 985 tonnes. Inspired by this successful outcome, Dr. Mahtani has confirmed that he will soon be opening a lime plant in Masaiti along with making employment arrangements for 150 people within the next two years.”

    However critics of Mr. Mahtani indicate that there is a past track record of taking over companies to strip them down.

    “This is a typical Mahtani tactic – steal control of a valuable asset, and then bleed it dry,” said one disgruntled employee at ZPC contacted for this article. “He has invested nothing in ZPC since taking over, and the plant has deteriorated, the quality control is down, and safety has become hazardous. The same can be said of the Radisson Blu Hotel – he invests nothing in maintenance, and just takes money out.A newly leaked document related to the Ndola-based Zambezi Portland Cement (ZPC) company shows that under the disputed control of local financier Rajan Mahtani, the company has failed to pay taxes dating back to December 2014.

    According to a sealed letter dated 30 March 2015 from the Zambia Revenue Authority (ZRA), the company has failed to pay both its Mineral Royalty taxes and PAYE over certain past periods. Meanwhile, the former owners claim that Mahtani has stolen as much of $100 million in profits from the company over the past three years.

    The letter states: “We wish to adivse that the following Tax returns for the stated periods below have not been submitted contrary to Section 46(1), 46(2), and 46(3) of the Income Tax Act. Please be informed that these returns are late and you will be charged penalties for each period the return remains NOT submitted as prescribed by part (v) of the Income Tax Act.”

    According to PACRA documentation, the directors of the company – whose appointments are disputed by the company’s original owners – are listed as Rajan Mahtani, Joan Craven, Peter Kanaganayagam, Timothy Mushibwe, John Mambo, Dumisani Tembo, and Inonge Wambulawae, and would be the ones responsible for the payment of taxes during the cited period.

    However in recent weeks the company has been affected by numerous changes in management as the long-running legal dispute for control of the company has heated up. In late March, Bishop John Mambo stepped down from ZPC, allegedly to begin a series of hostile attacks against President Edgar Lungu at Mahtani’s instruction. Peter Kanaganayagam decided to leave the country once the courts ruled to revoke the deportation orders against the company founders, and was replaced by Stephen Mutambo, formerly of Maamba Collieries Limited (MCL).

    The tax dodge takes place at a moment in which ZPC continues to produce valuable returns. According to a company press release from February 2015, “the year 2014 the total output for ZPC was registered at 4, 73, 985 tonnes. Inspired by this successful outcome, Dr. Mahtani has confirmed that he will soon be opening a lime plant in Masaiti along with making employment arrangements for 150 people within the next two years.”

    However critics of Mr. Mahtani indicate that there is a past track record of taking over companies to strip them down.

    “This is a typical Mahtani tactic – steal control of a valuable asset, and then bleed it dry,” said one disgruntled employee at ZPC contacted for this article. “He has invested nothing in ZPC since taking over, and the plant has deteriorated, the quality control is down, and safety has become hazardous. The same can be said of the Radisson Blu Hotel – he invests nothing in maintenance, and just takes money out.”

  20. Mitchel

    Where is the boyfriend of Mahtani?

    • Truth shall free Zambians

      Mahtani is AC DC he gives to women and takes from big strong man!

  21. Truth shall free Zambians

    To free Zambia of bribery and corruption place Mathani in a prison cell full of homosexuals with big penises who can fuck the daylight out of the arrogant thief.

  22. REALPOLITIK

    Watchdog is fast becoming the biggest censor of the truth by disallowing readers to comment on stories, particularly ones involving Mathani!

  23. Capital Soko

    @Real Politick you are an Uncle Tom a sale out to Mahtani you sound like someone who would sell his mother and sister into prostitution. Better you lick Mahtani’s brown arse.

  24. snake eyes

    that mosquito needs to be sqwashed we had enough!!!!!

  25. Reverberate

    Let the true owners of the plant lodge a complaint with police on stealing by Mahtani, Joan Craven, Peter Kanaganayagam, Andrew Kamanaga, Timothy Mushibwe, John Mambo, Dumisani Tembo, and Inonge Wambulawae. They were directors and top management in control during the period Mahtani stole K800,000,000 while leaving ZRA unpaid for K250,000,000. These directors were sitting on the board with the blinkers put on their eyes by Mahtani . They were just looking at sitting allowances, no concern for following the law, accountability and corporate governance.

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