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KRA raids company over tax evasion

KNA   The Kenya Revenue Authority (KRA) has seized documents from African Gas and Oil Company Limited premises in Mombasa for investigations on suspected tax evasion amounting to Sh200 million.

 Briefing the media during the exercise Friday, John Bisonga the Ag. KRA Coordinator Southern Region said the action is in accordance with section 157 of the East African Community Customs Management Act, 2004 which gives KRA powers to search premises and seize documents relating to suspected unacustomed goods.

 The company in question deals with the importation, repackaging, supply and exportation of liquefied Petroleum Gas (LPG).

 Preliminary investigations and available intelligence point to instances of company reducing tax liability by under declaration and undervaluation of imports as well as underpayment of corporation tax.

The documents seized from the company for examination by KRA include bank statements, financial reports, import declarations, stock records, deliveries and sales records.

  Bisonga said KRA will analyze the documents to establish the accurate tax liability and institute relevant recovery measures depending on the findings.

 He said tax procedures Act 2015 give KRA powers to search any building, place or property and seize documents or data storage devices and require the owner of such documents or their representative to answer questions for purposes of administering a tax law. 

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