Keroche Breweries will soon reopen for production following the agreement the company signed with the taxman at the Alternative Dispute Resolution Agreements in 2022 and got completed on Monday.
Keroche and the Kenya Revenue Authority signed a deal on a payment plan that will allow Keroche to clear its tax arrears that have accrued to Sh957 million in two years.
KRA’s Commissioner for Legal Services Paul Mutuku said in a statement released on Wednesday that the addendum agreement makes it possible for the brewery to reopen for production.
"The addendum agreement which sets the stage for the reopening for production of the Naivasha based brewery will see Keroche settle an undisputed tax amount of Kshs. 957,000, 000.00 over a period of twenty-four (24) months starting from January 2022," the statement partly read.
According to KRA, the deal also involves the taxman lifting agency notices issued to 36 banks.
“The signed addendum agreement will also see the KRA lift agency notices issued to thirty-six (36) Banks,” KRA said.
Keroche and the taxman have been locked in an ugly row over Sh9.1 billion tax Keroche owes.
The CEO Keroche Breweries Tabitha Karanja recently sought President Uhuru Kenyatta’s intervention in the matter that threatened the existence of her company.