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KRA chase after Chinese real estate firm over Ksh 26 Million Tax fraud

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The Kenya Revenue Authority tax fraud department is on to Tianyi Limited, a real estate firm owned by Chinese nationals over allegations of frauding the taxman Ksh 26 Million.

The three bosses; Mr Zhang Xiaodong, Mr Ming Zhao and Mr He Youging were accused of failing to remit taxes after the sale of property in Athi River’s River Park Estate.

“Investigations revealed that the three failed to declare and remit taxes amounting to Sh26 million from the sale of 171 units,” Mr Yego said in a statement.

The tax evaders sweep that seeks to restore credibility in the KRA has so far claimed over 10 billion shillings worth of evaded taxes. These are all in efforts to have the firm achieve its budget targets.

The number of Chinese investors operating in the country has risen with a majority of the companies already locking horns with the Kenya Revenue Authority over tax offenses.

Some of the companies, ZTE- Kenya, X-Tigi, China Aero Technology International Engineering Corporation among other firms are also facing tax crimes amounting to billions of shillings.

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