By 
The Zambia Revenue Authority (ZRA) on Thursday conducted a raid and launched investigations into alleged multiple tax evasion activities and related financial irregularities involving Gatbro International Limited and its associated entities.
The agency identified Irfaan Ismail Yosouf as the principal beneficial owner of the company, with Shalida Yosouf, Jamil Mitha, and directors Shiraz Gathool, Nadeem Yousuf Muhammed, and Mohammed Khanat listed as part of the company’s leadership structure.
ZRA Corporate Communications Manager, Oliver Nzala, confirmed the operation in a statement issued in Lusaka.
Preliminary findings suggest suspected under-declaration of imported goods, possible non-disclosure of actual sales revenue, and potential misrepresentation of financial records.
Nzala said there were further allegations that the company may have failed to accurately declare the true value and volume of imported goods, a practice that could significantly lower its tax obligations.
“There are also suspicions that the correct amounts of Value Added Tax (VAT) and Income Tax may not have been remitted, contrary to the provisions of the Income Tax Act and the Value Added Tax Act of Zambia,” he said.
Nzala added that a detailed analysis had revealed patterns of intra-group transactions among Gatbro International Limited’s associate entities.
These inter-company dealings may have enabled the movement of income, costs, and goods across affiliated companies in ways that affect the group’s taxable position, including the possible externalisation of taxable income.
“The group’s multi-sector operations — spanning FMCG distribution, hospitality, real estate, mining, and energy — provide structural flexibility that may facilitate the reallocation of illicit financial flows and the shifting of assets within the network,” he said.
He noted that the full extent and purpose of these transactions remained under examination and will be subjected to a detailed forensic review.
The ongoing investigations cover several entities believed to be operationally linked to Gatbro, including businesses involved in distribution, mining, energy, property, hospitality, and tourism, with operations in Lusaka, Mumbwa, the Lower Zambezi, and Mfuwe.
Read More: Zambia Revenue Authority targets informal sector to boost revenue collection
“Senior management, directors of associated offshore entities, and certain operational personnel are also subject to review in line with established procedures. During the raid, US$145,000 was seized by the Authority,” Nzala revealed.
ZRA emphasized that the investigations were ongoing and that all findings at this stage remained allegations until verified through due process.
Nzala reaffirmed the agency’s commitment to enforcing tax laws objectively and professionally, noting that any taxpayer found to be in violation will be dealt with in accordance with Zambian law.
“ZRA further assures the public that revenue protection, transparency, and accountability remain central to its mandate. The Authority will provide updates as appropriate, consistent with legal and investigative considerations,” he said.
WARNING! All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express permission from ZAMBIA MONITOR.
Comments