in

KRA Demanding Ksh1.3 Billion Tax Arrears From Tatu City

The Kenya Revenue Authority (KRA) is demanding over Ksh1.35 billion in taxes from Tatu City directors and its sister company, Kofinaf.

In a letter dated October 22, KRA says that the Ksh1,359,678,000 entails tax arrears and accrued interest.

“Please note that this notice is to restrict further transactions on the said pieces of land. In case of partial payment, this notice shall remain in force until the amount specified herein in fully recovered,” reads the letter in part.

Consequently, the directors of the city and Kofinaf cannot resell the land until the amount is cleared.

Read: How Foreigner Stephen Jennings Swindled KRA Ksh6.5 Billion, Conned Shareholders And Clients of Tatu City

Tatu City has been the centre of attention in the investment industry, with Kenyan investors accusing one foreign investor Stephen Jennings of swindling them.

Apart from swindling the investors, it is reported that Jennings could have swindled KRA more than Ksh6.5 billion in tax dues, as well as unsuspecting land buyers.

KRA is also investigating whether the directors of the city could have understated the property to evade tax.

Do you have a story you want told? Do you know of a sensitive story you would like us to get our hands on? Email your news TIPS to news@kahawatungu.com Also WhatsApp 0708677607 with your news tips

Written by Francis Muli

Senior reporter at Kahawa Tungu, Muli has a passion for human interest stories. He believes in unearthing societal rots that have been hidden from the public eye. He has also carved himself a niche in writing business stories. He has worked for various organisations including Kenya Television Service, Business Today among others. Follow him on Twitter @FmuliKE.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Loading…

0

Comments

0 comments

obado

Governor Obado Blames Some Members Of Parliament For His Woes

esse akida

Esse Akida In As Harambee Starlets Provisional Squad For AWCON Named