By Lisa Vives, Global Information Network
NEW YORK (IDN) – Foreign mining companies extract more than a quarter of the world’s production of rare emeralds in Zambia yet, in some quarters, are alleged to declare losses to make themselves tax exempt.
So far, charges of tax evasion filed against Kagem mine, a subsidiary of the London-listed gemstone miner Gemfields, have been unsuccessful on investigation and dismissed by the Zambian Revenue Authority.