Two company directors of Hakurute Agency Limited have been charged before a Mombasa Law Court with tax evasion charges amounting to Sh15million.
While appearing before Mombasa Senior Resident Magistrate Gladys Olimo, the suspects, Shehe Akare Bonaya and Mohamed Buya Yusa, were charged with several counts of tax fraud.
The two are accused of failing to comply with provisions of the Tax Procedures Act No. 29 Of 2015, which include payment of taxes despite having been actively trading and deriving income amounting to Sh15,485,348.
They also failed to register for Value Added Tax (VAT) obligation and was engaged in business that attract the VAT as well as failure to file tax returns for years 2018 to 2022.
Taxpayers are obligated under the law to declare their accurate income to the Commissioner.
KRA investigations revealed that the company derived a total income of Sh63,791,266 between 2018 and 2022 and hence was liable to pay a total of Sh15,485,348 in both income tax and VAT.
According to documents filed in court, the company derived income of Sh18,072,441 in 2020 and tax implication of Sh5,421, 732 but neither paid nor submitted tax returns for that year.
They both denied the charges and were released on a bond of Sh300,000.
The two cases will be mentioned on January 8, 2025
