Billionaire Humphrey Kariuki Offers Deal to KRA in Ksh6 Billion Scandal
Billionaire Humphrey Kariuki has finally reached out to Kenya Revenue Authority (KRA) with a deal aimed at ending their Ksh6 Billion tussle.
According to a report by People Daily, two firms linked to the billionaire, including Africa Spirits Limited, reached out to the taxman seeking negotiation over tax evasion claims they face.
The billionaire reportedly sought to settle penalties and the principal amount of tax that was arguably not paid to KRA.
On Tuesday, Kariuki, among other business people, was grilled for the second time at the office of the Director of Criminal Investigations (DCI) before he was set free.
The amount being sought by the taxman from a company associated with the tycoon was valued at Ksh6 Billion owing to stamps the company picked up from KRA over the years.
On February 8, 2019, DCI George Kinoti, together with the Inspector General of Police Joseph Boinnet and KRA officials seized fake and counterfeit products worth Ksh1.2 billion from a brewery located in Thika.
Reports from KRA stated that the goods included an estimated 21 million counterfeit excise stamps and 312,000 litres of illicit products.
The tycoon, thereafter, allegedly vanished after the raid but surrendered to the police after summons were issued.
His list of offences then grew longer when he was found in possession of undeclared dual citizenship.
DCI officers who were initially questioning him over tax evasion were surprised by new revelations about his Cypriot passport, made by the Department of Immigration.
In Cyprus, investors have to part with Ksh226 million for a passport.
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