Ginimbi was back in court yesterday and appeared before regional magistrate Hosea Mujaya. Representing the State, Admire Kumire and Lovett Masuku told the court that the State was waiting for Ginimbi’s lawyers to file their application for exception as highlighted on the previous hearing.
Ginimbi’s lawyer, Jonathan Samkange told the court that he hadn’t pursued that application because he had pursued an out of court settlement. “I wrote a letter to the Prosecutor General informing him of the out of court settlement and yesterday ZIMRA called me for a meeting today (yesterday) and we advised them that we will be able to see them after this court sitting to put the proposals in writing because all ZIMRA wants is its money,” said Samkange.
The State’s representatives Kumire and Masuku were surprised that was the position causing the presiding magistrate to question why ZIMRA wasn’t communicating the position of the arrangements to the State that is going to represent them in their matter.
It was later agreed that the application for postponement had been overtaken by events as there was a scheduled meeting between ZIMRA and Ginimbi.
The matter will be back in court on March 20.
Allegations facing Kadungure and his company are that they declared to Zimra that they received a total of $3 194 329,47, including VAT, in sales, yet they had pocketed $24 187 026, prejudicing Zimra of $2 512 149.
It is also alleged that Kadungure, between January 2015 and March 2016, smuggled about 5 289kg of liquefied petroleum gas into the country, prejudicing ZIMRA of $672 533 in taxes.
Kadungure and his company allegedly failed to forward $355 559 in employees’ tax to the Commissioner of Taxes between February 2009 and April 2016.
He is charged in his personal capacity for failing to submit documents about his income to the Commissioner of Taxes from January 2010 to December 2015 as required by the Income Tax Act
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Structured Settlement vs Lump Sum Payment
Structured Settlement vs Lump Sum Payment
A structured settlement pays money over time instead of giving the full amount upfront. Structured settlements are common in injury cases, insurance claims, and lawsuit settlements.
A lump sum settlement pays all the money at once. Both options have benefits and risks.
Benefits of Structured Payments
Structured payments can provide steady income and help prevent spending the money too quickly. They may be helpful for future medical care, living expenses, or long-term support.
Benefits of Lump Sum Payments
A lump sum gives immediate access to cash. This may help pay off debt, buy a home, cover medical bills, or invest.
However, receiving all the money at once requires strong financial discipline.
Selling a Structured Settlement
Some people sell future payments for cash now. This can provide quick money, but the amount received may be less than the total future value.
Conclusion
Before choosing or selling a settlement, consider long-term needs and speak with a financial professional.
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