Kenya Revenue Authority (KRA) and Keroche Breweries Limited (Keroche) have agreed on a payment plan on taxes owing, and not in dispute from Keroche.
The payment plan, which is contained in an addendum agreement to the two (2) Alternative Dispute Resolution Agreements signed between the two (2) parties in 2021 was arrived at and signed on 14th March, 2022 after week-long negotiations.
The addendum agreement which sets the stage for the reopening for production of the Naivasha based brewery will see Keroche settle an undisputed tax amount of Kshs. 957,000, 000.00 over a period of twenty four (24) months starting from January, 2022.
The addendum agreement which flows from earlier Alternative Dispute Resolution processes will see the rest of the taxes owing from Keroche dealt with as was agreed between the two (2) parties in the Alternative Dispute Resolution Agreements already signed.
The signed addendum agreement will also see the KRA lift agency notices issued to thirty six (36) Banks.
The KRA seeks to encourage dialogue and amicable resolution of tax disputes.