Welcome, Guest: Join Kenyans247 Log In!

Stats: 315 Members, 16,743 topics and 65 posts Date:  Thursday 22 April 2021 at 04:24 AM
Popular & Trending NewestFeatured Links ClassifiedDirectoryLivescoresLive Kenyan TVLive Kenyan Radio Follow Us Like Us

About Us Terms & Conditions Privacy Policy FAQ's Disclaimer Copyright Contact Us Advertise With Us Download K247 APP Marketplace Moderator Policy We Are Hiring Kenya Radio and TV Stations Listen and Watch Live Letter From the C.E.O Kenya Radio Stations Live Kenya TV Stations Live Kenya - Newspapers and News Sites and popular blog Forum Rules

Taxman probes 77 firms in Kemsa scam for tax evasion

Kenyans247 / Kenyans247 / General / K247 Intelligence / Taxman probes 77 firms in Kemsa scam for tax evasion

55 people viewed

Kikuyus Dominate Kra, Taxman Tells Parliament Kra Probes Sh100m Tax Racket Another Kenyan Woman On The Spot As Dci Probes Whereabouts Of Her German Husband Taxman Probes 77 Firms In Kemsa Scam For Tax Evasion
(Go Down) (» Reply topic)
Taxman probes 77 firms in Kemsa scam for tax evasion by Kenyans247(1): Thu 18, February, 2021 11:01am
About three quarters or 77 companies that supplied Covid-19 related items to the Kenya Medical Supplies Authority (Kemsa) are under the radar of the taxman after they failed to declare sales and pay taxes as required under law.
kenyans247
Kenya Revenue Authority (KRA) Commissioner General Githii Mburu told Parliament that investigations had been launched to establish why the firms failed to disclose and pay domestic taxes.

Mr Mburu could not disclose the amount of tax the companies may have evaded since the firms have not filed self-assessment, meaning taxpayers may have lost billions of shillings in unpaid tax.

Kemsa entered into contracts with 102 local firms to supply Covid-19 related items valued Sh7.8 billion. The authority has since paid out Sh4 billion to suppliers of personal protective equipment (PPE).

“Seventy seven companies did not declare any supplies to Kemsa. KRA is currently conducting reviews on the companies to establish compliance status,” Mr Mburu told MPs.

Mr Mburu appeared before National Assembly’s Public Investments Committee (PIC) to provide information on a special audit report on utilisation of the Covid-19 procurement billions.

He said KRA had taken proactive measures to look into payment of taxes by 102 companies that did business with Kemsa between March and June 2020.

“We have deployed comprehensive audits, compliance checks and tax intelligence reviews to ensure integrity and fairness is infused into how companies handled their tax administration matters,” he said.

Data tabled by Mr Mburu shows that out of the 102 firms, only 15 companies’ declared supplies to Kemsa under general Value Added Tax (VAT) rate and paid respective VAT totalling Sh191 million.

Eight declared supplies to Kemsa under the exempt supplies (not subject to tax) worth Sh749,000.

Mr Mburu disclosed that 43 companies made importations for Covid-19 related materials as per the World Health Organisation list of Covid-19 supplies worth Sh1.9 billion and paid Sh324 million as total taxes.
https://www.businessdailyafrica.com/bd/economy/taxman-probes-77-firms-in-kemsa-scam-for-tax-evasion-3295220

0 Shares 0 Like •

(» Go Up)

You must Sign in or Sign Up to post content

For you to post content on this website you have to log in or register, it only take few minute to create account

Go Up

Recommended for you

Kikuyus Dominate Kra, Taxman Tells Parliament Kra Probes Sh100m Tax Racket Viral Audio: Makinde Probes Task Force Officials, Proprietress Brawl Kra Probes Firms Over Sh1.4b Fraud

Currently: 1 guest(s) reading this article

Sections: Autos, Food, Culture, Family, Environment, Technology Market, Education, Computers, Phones, Webmasters, Jokes Etc, Events, Social Media/K247 Chit-Chat, K247 TV, Music/Radio, Somalia Forum, Rwanda Forum, Ugandan Forum, Tanzania Forum, South Sudan Forum,

About Us | Terms & Conditions | Privacy Policy | FAQ's | Disclaimer | Copyright | Contact Us | Advertise With Us | Download K247 APP | Marketplace | Moderator Policy | We Are Hiring | Kenya Radio and TV Stations Listen and Watch Live | Letter From the C.E.O | Kenya Radio Stations Live | Kenya TV Stations Live | Kenya - Newspapers and News Sites and popular blog | Forum Rules | Featured LinksFollow Us on TwitterLike Us on Facebook

Kenyans247 - Copyright © 2019 - 2021 Sande Kennedy. All rights reserved. See How To Advertise.
Disclaimer: Every Kenyans247 member is solely responsible for anything that he/she posts or uploads on Kenyans247.