Keroche breweries now on the verge of collapsing after Kenya Revenue Authority (KRA) demands Sh 9 billion as tax evasion repayment.
The company director through the company auditor revealed that the company is now worth Sh 8 billion. According to the auditor, the company has been paying taxes since it's inception and Sh 9 billion is sh 1 billion more than the company value plus its assets.
KRA has attached Keroche’s banks' accounts at Equity Bank and Absa Kenya over the Ksh 9billion tax claim.
" The whole Keroche factory, assets, and business are worth Ksh 8 billion. It’s outrageous to claim that Keroche owes Ksh 9 billion, " the auditor said.
CEO Mrs. Tabitha Karanja said the troubles the company is facing has a political hand. She said the company taking over by KRA is a plot to shut it down and leave some powerful people companies. The said companies are controlled by top government agencies who as mega shares.
KRA has already attached Keroches bank accounts at Equity Bank and at Absa Bank Kenya to recover the billions.
In a letter to Equity Bank, KRA deputy commissioner of Domestic Taxes department Mr. Daniel Kagira ordered that the bank pays KRA Ksh9,116,835,985 on behalf of Keroche until the amount is fully recovered.
In a letter to Equity Bank, KRA deputy commissioner of Domestic Taxes department Mr. Daniel Kagira ordered that the bank pays KRA Ksh9,116,835,985 on behalf of Keroche until the amount is fully recovered.
" Today morning, we woke up to an agency notice issued by KRA directed to our banks to collect Ksh9 billion. This means Keroche Breweries cannot withdraw any money or transact any business from their accounts until KRA collects the alleged Ksh9 billion, ” said Ms. Karanja.
Factory to be taken over by KRA to recover the debt.
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