KRA settles Sh2.5 billion tax dispute with sugar importer - 5 months ago, 21 Sep 13:43

By: Galgallo Fayo

Kenya Revenue Authority has agreed to release 40,000 metric tons sugar owned by Darasa Investment Ltd that is at the centre of a Sh2.5 billion dispute.

KRA in a statement revealed that it reached out of court settlement with Darasa Investment which will now clear the Sh2.5 billion duty and VAT arrears.

The tax was subject of a long running court battle, and Supreme Court in May stopped KRA from demanding the sh2.5 billion from the sugar importer.

Darasa Investment had contested the tax arguing that it brought it in during the tax waiver period granted last year and accused the taxman of discrimination.

The taxman further indicated that the firm is required to settle a Sh547,846,969 in ninety (90) days if waiver of interest and penalties is not granted as per the East African Community Customs Management Act.

The entry of the sugar into the country will be subject to further clearance from Kenya ...
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Category: business news economy opinion markets lifestyle corporate


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