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NewsDay

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Kadoma businessman faces tax evasion probe

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MEMBERS of the Kadoma Business Tenants’ Association have appealed to the Zimbabwe Revenue Authority (Zimra) to investigate property magnate Isaac Levy for alleged tax evasion.

MEMBERS of the Kadoma Business Tenants’ Association have appealed to the Zimbabwe Revenue Authority (Zimra) to investigate property magnate Isaac Levy for alleged tax evasion.

BY OWN CORRESPONDENT The association says Levy has been collecting value-added tax (VAT) from its members claiming the funds would be remitted to Zimra, but failed to prove that he had sent the money to the tax collector.

Kadoma Business Tenants’ Association is a registered trust that represents 40 business entities on matters such as rent and lease disputes.

In a letter addressed to Zimra Commissioner-General Gershem Pasi gleaned by NewsDay, the tenants allege that from November 2014 to date, Levy, through his company Mutual Finance (Private) Limited, has been collecting 15% of the total of each tenant’s rentals per month and $3 from each flea market table as VAT, but failed to prove that the funds were being remitted to Zimra.

The association’s director Believe Guta said: “We won’t sit idle as businesses are being short-changed. Levy is not paying Zimra its dues yet he collects monies from our members. For all the years that Mutual Finance has been leasing out properties in Kadoma, they never refunded the tenants their annual security deposits.”

The tenants further allege that the total of rental collections at Sam Levy Complex in Kadoma alone are over $90 000 meaning that Levy was meant to remit an average of $6 000 to Zimra.

Guta further claimed that Levy had threatened to evict all tenants at the premises following the expose’.

Through his lawyers S Rugwaro and Associates, Levy has sent out eviction notices to all tenants at the property situated in the heart of Kadoma city. The property was built over two decades ago.

Levy also owns upmarket Sam Levy Village in Borrowdale, Harare.

Efforts to get comment from Levy and his manager Charles Kapfupi proved fruitless.