If you recall the original KRA demand was 14B which has now been moderated by the tribunal to 9B after hearing both sides. It means Keroche must have admitted cheating for the years in question. The tribunal decision (don't forget it is Keroche who asked case be moved to trib from HC) will now be filed with high court. Waandike cheque twende kazi ingine.
Gachui one day whoever you work for or whatever enterprise you run will come a foul of wrong government policies and there your sadistic being Mr right side of govt will come to an end.
They are a private company they do not declare their accounts to the public. They would only be required to disclose if they were planning an IPO to raise additional capital from the public.
But the figures don't make sense, remember the way Castle breweries ya the late karume how it was brought down . I read sam script here !
Amen to that.
Amen again.
Tumesema ni za miaka mingi. If Keroche had allowed the case to go to full trial we would have heard the evidence KRA had to demand 14 B. But Keroche requested to move to tribunal where they could negotiate privately and apparently they have succeeded. For the tax demand to have been reduced by a whopping 5B is no joke unless KRA now feels dissatisfied and returns to court.
These were given hard tackles by their rivals EABL wakainua mikono. EABL tried the same with Keroche but it was a different game because Keroche was being cushioned by the down market makali. Eventually EABL had to also go down market and stop wasteful fights. One of their skirmishes about the brown bottles is still in the courts.
I suspect they had agreed before the tribunal ruled but totasikia kama KRA imetosheka.
We can estimate though. Being the second in the market share, we can look at the profits EABL at the very time. EABL brands constitutes 50% of the market share while Keroche takes 20%. These are the kind of profits EABL makes
Meaning biashara in Kenya = cheating ,stealing evading taxes ! Very sad,very sad !
What you have quoted here is corporate profit for which KBL needed to pay corporate tax (saidia hapa @Okiya as I am not very sure). But what Keroche was being asked for included taxes it collected on behalf of KRA such as VAT and excise but which it withheld. I have heard Humphrey mentioned but I remember among other things he was found with tax stamps not supplied by KRA.
Allow me to study this case and report back tomorrow.
With your facts then tell us how and why collection is so painfully enforced while spending leads to all the cases we see everyday in court of wanton waste and outright theft that normally end up to nothing.
Start another thread tutachangia.
They bought out Kiereine and Madibas stakes......
Rem corporate tax is always more than the VAT. Ata hiyo ya Humphrey was another sham, created by DCI to raise debate and paint Kariuki as evil. Its just impossible to have such kind of tax arrears considering their market share
