Lecture 33 ยท London Distillers was assessed on missing bottles, and the method held at KSh3 billion.
๐ป๐๐ ๐ช๐๐๐ ๐น๐๐๐: KRA built a KSh3 billion assessment from gaps between stamps bought, bottles bought and money banked. A tribunal threw it out on a theory nobody had pleaded; the High Court restored it and held the method sound.
Illustration: Precursor
The tax authority reconstructs your production from the stamps you activated, the bottles you bought, and the money you banked, and the three counts do not match your returns. It assesses the gap.
Put yourself in the finance director's chair. When direct records are thin, can an authority estimate your output from its inputs, and who must then explain the difference?
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Lecture 28 ยท Hashi Energy ran foreign contracts from Nairobi and owed KSh7 billion in Kenya.
๐ป๐๐ ๐ช๐๐๐ ๐น๐๐๐: Hashi Energy argued its income belonged to the Congo, where the work happened. The High Court held that a Kenyan company running the contracts from Kenya is taxed in Kenya, and let a KSh7 billion bill stand.
Tax and financial judgement ยท 4 min read ยท Paid