KRA goes for Sh22.5bn VAT claim cheats - 3 months ago, 16 Nov 06:38
The Kenya Revenue Authority (KRA) Thursday said it was examining Sh22.56 billion worth of outstanding input value added tax (VAT) claims made in the past 18 months for possible fraud after it detected inconsistencies between purchase and sales invoices submitted by traders.
Use of the newly installed VAT auto assessment (VAA) system has flagged out many buyer taxpayers who are claiming input VAT that the sellers have not declared as output VAT, pointing to a possible tax leakage, the taxman said.
Deputy Commissioner for policy and tax advisory Caxton Ngeywo said KRA plans to lock out traders who have been making fictitious and unsupported claims from the list of eligible recipients of the refunds.
Official data for January 2018 show that of the 642,557 invoices valued at Sh141 billion, Sh22.56 billion input tax claims did not match what traders had submitted as output VAT, according to KRA data that captured 35,876 traders.
“We want ...
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