The London-based gold mining firm, Acacia Mining Plc, the largest mining company operating in Tanzania, was in July 2017 issued a $190 billion tax bill. The bill is split into $40 billion in unpaid taxes and an additional $150 billion in interest and penalties.
The case is based on the findings of government-appointed committees. Following the release of a government-ordered audit of the mining industry, Acacia Mining was accused of operating illegally in the country and tax evasion.
The charge covers alleged under-declared export revenues from the Bulyanhulu and Buzwagi mines over periods between 2000 and 2017.
For its part, Acacia, while refuting the government’s findings, “re-iterates that it has fully declared all revenues”.