KRA had argued that discrepancies between import records, VAT returns, and financial statements justified additional tax assessments.
By
Joseph Wangui
Correspondent
Nation Media Group
The High Court has overturned a Sh221 million tax assessment against East African Seed Company, handing the agribusiness a major victory in a dispute over value-added tax and withholding tax liabilities linked to a 2020 corporate restructuring.
The Court of Appeal has ruled that foreign exchange losses arising from debt-to-equity conversions are tax deductible.
KRA argued that although KenGen paid taxes on rental income, interest income and other miscellaneous income, it paid no tax on…
The dispute arose after Pernod Ricard Kenya applied for tax refunds on December 6, 2022.
This follows the reduction of VAT on fuel from 16 per cent to eight per cent as part of measures aimed at cushioning consumers…
Widespread opposition to tough taxation measures has shifted the responsibility for mobilising higher domestic revenues from the…
The KRA will likely record wider missed targets if the tax concessions are adopted without a reduced revenue outlook for the…
