KBF

KCB Group Plc shook off the effects of the ongoing Covid-19 pandemic to post a net profit of Sh6.4 billion...

The Kenya Off-Grid Solar Access Project (KOSAP) has embarked on testing cookstoves and clean cooking technologies in two (2) counties...

The first ever Made in Kenya Experience will be going down at the Two Rivers on the 3rd July 2021. ...

The Tax Appeals Tribunal (the Tribunal) has dismissed an Appeal filed by Jhulay LAL Commodities Ltd on grounds that the firm had failed to prove that Kenya Revenue Authority’s (KRA) assessment was excessive. Jhulay LAL’s principal activity is the wholesale and retail sale of rice sourced from Pakistan. Jhulay LAL Commodities Ltd appealed the decision of KRA contesting that the entire tax of Kshs. 1,456,433,604.00 demanded. The main grounds of the appeal was that the Commissioner determined the taxable income on the basis of its gross bankings against the basic accounting principles and tax law. KRA successfully argued that it made the assessment after an investigation revealed several irregularities including unexplained bank deposits and that the sales of the rice exceeded the amounts imported. The Tribunal reviewed the evidence as presented by both parties and held that KRA exercised its powers judiciously to make the decision based on the material before it. The Tribunal held that the Jhulay LAL Commodities Ltd failed to prove that the assessment was excessive and dismissed the appeal.

Monarch Insurance Company has today announced that it has entered into a deal with The Holmarcom Group through its holding company...

By Caroline Murugi, “Enjoyment” is a phrase my peers and I use when having fun. Usually characterised by a carefree...

By Muthoni Wachira Competition in the smartphone industry is pretty much alive across the globe. From the flagship/high-end segment to...

The government-backed National Hospital Insurance Fund (Amendment) Bill 2021 introduced in Parliament last week wants NHIF to only step in...

Del Monte Kenya Limited (DMKL), has put in place stringent measures to protect endangered, rare, and endemic plants and animals...

The Bakers Association of Kenya (BAKE) wants the government to reconsider plans to introduce 16 per cent VAT on ordinary...