Nowhere To Hide. Taxman Freezes Billionaire Humphrey Kariuki's 11 Bank Accounts


Nowhere To Hide. Taxman Freezes Billionaire Humphrey Kariuki's 11 Bank Accounts

The Kenya Revenue Authority has gone ahead to freeze eleven bank accounts that are directly associated with businessman Humphrey Kariuki over allegations of tax evasion amounting to a staggering Sh3 Billion.
The accounts linked to three companies associated with Humphrey Kariuki are dispersed across seven banks including three top banks in the country: Equity Bank, National Bank of Kenya and Kenya Commercial Bank.
The Kenya Revenue Authority took the step of freezing these accounts after obtaining court orders authorizing it to do so. The taxman believes that Vow Beverages Limited, Wines of the World Ltd and African Spirits Ltd owes the republic Sh3 billion.
Documents produced in court by Kenya Revenue Authority show that the companies were supplying goods using counterfeit customs stamps. The Kenya Revenue Authority also claims that the companies prevented it from collecting huge amounts of tax.
Justice Onyiego who had earlier certified the case as urgent authorized the taxman to prohibit the transfer, withdrawal or disposal or dealing with money in the said accounts, pending hearing and determination of the case.
KRA believes that the companies may seek to frustrate efforts to recover the funds that were obtained through tax evasions.

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