Saturday, May 28, 2022

Taxman goes after BDC Glass Company

The Botswana Unified Revenue Services (BURS) is in the process of dragging Shanghai Fengyue Glass Company before the Lobatse High Court to demand over 5million of unpaid taxes accumulated since the company started business in Botswana.

This comes after Steel base, a company owed millions by Shanghai Fengyue, got a garnishment order in its favour against Shanghai Fengyue and BURS.

BURS has been asked to clear a debt of over 2 .2 million as monies that Fengyue owes Steel Base. So far roughly P1.4 million has been paid out to Steel Base.

In terms of the Court Order, BURS has over P5.500 000 as money belonging to Fengyue.

“The garnish should pay to the judgment Creditor’s Legal Practitioners, being Makuyana Legal Practice, on or before the last business day of the month during which the present order is made final and absolute, the said sum of 2.264 288.56 debt, together with interest on such sum at the rate of 3 percent above prime rate per annum calculated on the total debt from the 04 day of April 2011…..” the order reads in part.

However, BURS, which did not make representation when the order was made, is unhappy and intends to challenge. According to insiders, BURS contends that it is owed millions by Fengyue.

“This company has not been tax compliant and we intend to challenge the Garnishment order,” said an insider who spoke on condition of anonymity.

The insider confirmed to Sunday Standard that they have money belonging to Shanghai Fengyue, but maintained that the company owed them much more as it has not been paying tax since it started operating in 2007.

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