Tanzania: Government gives Acacia $190bn tax bill

Issue 351 - 28 Jul 2017 | 1 minute read

The Tanzania Revenue Authority has given gold miner Acacia Mining a series of Notices of Adjusted Assessment for $40bn of alleged unpaid taxes and $150bn of penalties and interest owed. The total covers alleged under-declared export revenues from the Bulyanhulu and Buzwagi mines between 2000 and 2017.Acacia reiterated that it had fully declared all revenues. The company has been in dispute with the government since it banned exports of unprocessed gold and copper in March.

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