FLAMBOYANT businessman Genius Kadungure’s $22 million tax evasion case was yesterday postponed because the State was not yet ready to proceed to trial.
Popularly known as Ginimbi, Kadungure’s case was remanded to April 29.
Allegations are that between February 2009 and May 2016, Kadungure allegedly made misrepresentations to Zimbabwe Revenue Authority (Zimra) that his company Pioneer Gases made total sales of $2 777 678,13 when the total was $9 092 951,51.
It is alleged that Ginimbi made the misrepresentation to avoid paying tax, allegedly prejudicing Zimra of $417 940, 58.
Zimra investigated operations of Pioneer Gases after doing a lifestyle audit of Kadungure.
On March 2, 2016, Ginimbi told Zimra investigators that he owned a Domboshawa residential property valued at $200 000, Rolls Royce, Bentley Range Rover, a Mercedes-Benz S Class and BMW motor vehicles.
Zimra investigators asked Ginimbi to prove the source of income but he reportedly failed to do so, leading to his arrest.
Between January 2010 and December 2015, the State claims Kadungure did not declare sales made by his Pioneer Gases amounting to $9 092 951.51 and allegedly concealed assets valued at $1 191 713.45.
Section 81 (1) (a) of the Income Tax Act required Kadungure to file tax returns and pay tax due to the Commissioner of Taxes.