Ginimbi seeks out of court settlement
THE incarceration of businessman Genius Kadungure has stalled progress in negotiations for an out-of-court settlement in another matter he is accused of prejudicing the Zimbabwe Revenue Authority of Value Added Tax.
Kadungure is currently in remand prison after being denied bail over fresh fraud charges involving his purchase of a Bentley Continental GT from South Africa.
When he appeared in court yesterday, Ginimbi was jointly charged with his company — Piko Trading — but his lawyer Jonathan Samukange was not present and there were indications that the matter was being settled out of court.
“The last time accused person appeared in court the matter was given a long remand because Zimra and the National Prosecuting Authority worked on a possible out-of-court settlement. We want to advise the court that a lot of ground work has been done pertaining to that development,” said Brighton Pabwe, who stood in for Samukange.
“The minor impediment we encountered was that Kadungure has been in custody on another matter since February 4, the other thing is that the response from Zimra was only made available to me yesterday and was very encouraging such that a possible settlement can be made.”
Deputy chief magistrate Chrisphen Mberewere granted the postponement to February 28 for trial commencement.
In his first count, Kadungure is being jointly charged with his company — Piko Trading — after they allegedly made false statements or entry into returns rendered in VAT between February 2009 and March 2016.
He allegedly declared that they received a total of $3 194 329,47 including VAT in sales returns, while they had pocketed $24 187 026, prejudicing Zimra of $2 512 149 in the process.
The court heard between January 2015 and March 2016, Kadungure smuggled 5 289kg of Liquefied Petroleum Gas into the country, leaving Zimra suffering $6 72 533 in potential income.
Kadungure and his company also allegedly failed to pay $355 559 in employees’ tax to the Commissioner of Taxes from February 2009 to April 2016.
He is also charged in his personal capacity for failing to submit documents about his returns to the Commissioner of Taxes from January 2010 to December 2015 as required by the Incomes Tax.