Keroche Breweries To Reopen After A 2-Year Tax Payment Plan With KRA

NAIROBI, Kenya, Mar 16- The Kenya Revenue Authority (KRA) and Keroche Breweries Limited (Keroche) have reached an agreement 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 Alternative Dispute Resolution Agreements signed between the two parties in 2021 was arrived at and signed on March 14, 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 Sh957,000, 000.00 over a period of 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 36 Banks lifted.

In a statement, KRA said it “seeks to encourage dialogue and amicable resolution of tax disputes.”