Wednesday, August 10, 2022

Keroche and KRA reach agreement on Ksh 957M tax arrears

Beverage company Keroche Breweries and Kenya Revenue Authority (KRA) have reached an agreement on the settlement of tax arrears amounting to Ksh 975 million.

The news was confirmed by KRA who said that the payment plan was reached at through an Alternative Dispute Resolution Agreement signed by the two parties on 14th March 2022.

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The agreement will see Keroche settle the undisputed amount over a period of 24 months commencing January 2022 and at the same time allow them to re-open their Naivasha based company.

“The addendum agreement which sets the stage for the reopening for the production of the Naivasha based brewery will see Keroche settle an undisputed tax amount of Ksh 957,000,00 over a period of 24 months starting from January 2022.

The addendum agreement which flows from earlier Alternative Dispute Resolution process will see the rest of the taxes owing from Keroche dealt with as we agreed between the two parties in the Alternative Dispute Resolution Agreement already signed

The signed addendum agreement will also see KRA lift agency notices issued to 36 banks.” Said KRA

Operations at the breweries company had been halted with the management forced to send home over 200 employees as they sort to resolve the standoff.

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