The white smoke is out at last. Keroche Breweries Limited will be resuming operations soon after reaching a deal with Kenya Revenue Authority (KRA). In the new deal, Keroche will pay the pending taxes within a period of 24 months.
According to the statement released by Keroche Breweries, the resumption of operation will be based on the following premises:
All taxes not in dispute were agreed with a payment plan of 24 months.
The factory was to be re-opened on 15 March 2022 upon payment of the 1st installment as per the payment plan.
All the Agency Notices in the 36 Banks were to be immediately lifted by KRA.
Any tax disputes to be dealt with in accordance with the laid down statutes and procedures.
“We would like to make an appeal to our National Government through the Parliament to consider a review of some of the existing laws and enactment of new ones to give incentives and facilitate local businesses, especially in times of economic hardships.
We note with appreciation the short-term tax incentives that were given in 2020 when COVID-19 Pandemic hit the country. However, more measures such as granting moratoriums, extended payment periods, waivers, etc can go a long way in giving new lease of life to local entrepreneurs and give them a competitive edge against large Multinationals,” said Tabitha Karanja, the CEO of Keroche Breweries.