The Malawi Revenue Authority (MRA) has arrested Yeremiah Chihana, who is the owner of YMW Property Investment Company, on suspicion of tax evasion offences.
Chihana, the valuer of former president late Bingu wa Mutharika’s property, was arrested on Friday, June 19, 2015.
The property evaluator and entrepreneur also owns Vikawu Trust, Steers Auctioneers and Estate Agency, New Chikale beach, YMW International Transport/Bus Services Limited, Limex Limited, Prudential Consultants and Dutch contractors.
He is suspected of not remitting Value Added Tax (VAT) to MRA since 2009.
Chihana is also suspected to have smuggled several motor vehicles into the country without paying applicable customs duties. The estimated amounts of taxes and duties is at K1.34 billion.
MRA is appealing to members of the general public to always report any malpractices involving tax fraud.
Last Tuesday, the Authority also arrested Managing Director of Intertrade Agency andMozimplex, a Mozambique based company, Mohamed Rafik Amad, for allegedly using false custom documents to externalize forex.
Amad presented fake custom documents to banks for remittance of $720,000 and $768,000 to Hong Kong.
The fake custom documents were presented to the banks on two separate occasions.
MRA Deputy Director of Corporate Affairs Steve Kapoloma said they are closely working with the Anti-Corruption Bureau (ACB) and other enforcing agencies to arrest more unpatriotic and unscrupulous business persons who are also externalizing forex through fake custom documents.
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