By Edwin N. Kimani
Recently in the media, there have been high profile tax disputes between the Kenya Revenue Authority (KRA) and some big corporates.
These disputes involved colossal sums of money and for that reason, the outcomes of these cases are significant because the judgments may set a precedent for such disputes in the future.
The taxman has issued a stern warning stating that it would stop at nothing in recovering Sh250 billion “tax cheats” owe it. To recover the money, it has promised more prosecutions and administrative actions. The number of tax disputes is expected to rise due to an increasingly aggressive and sophisticated approach by the revenue authority.
This is not unique to Kenya. It is a trend seen worldwide due to greater co-operation between different tax authorities as well as advanced information technology facilitating deeper and faster investigations….Read more>>