A Senseless Cathedral of Doom | Dissident Voice dissidentvoice.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dissidentvoice.org Daily Mail and Mail on Sunday newspapers.
THE STANDARD
NAIROBI
Westgate Mall s entry. [Jonah Onyango, Standard]
KRA will refund Westgate Sh3 million after the High Court found that it had a conflicting account of why it declined to honour its end of the bargain.
At the heart of the case is Sh33 million tax refund. The firm had requested KRA to use 30 million to offset the tax liability of its sister company Atlantic Group (K) Limited and refund the rest.
KRA first accused the firm of making an illegal claim then turned around and said it had used all the money to offset Atlantic’s tax debt.
THE STANDARD
NATIONAL
The High Court in Nairobi has affirmed the decision by the Tax Appeal Tribunal that insurance disbursement of Sh600 million to Westgate Shopping Mall was not subject to tax.
Justice David Majanja last week dismissed an appeal by Kenya Revenue Authority against Sony Holdings Limited.
Sony Holdings is a company engaged in the business of developing, owning and letting real estate and its flagship project is the Westgate Shopping Mall from which it receives rental income.
The mall was on September 21, 2013 subjected to a terror attack that led to loss of lives and property, which greatly affected its operations. The company held a terrorism and political violence insurance cover for property damage and loss of rent receivable in the sum of Sh6 billion and Sh1.2 billion, respectively with Kenindia Assurance Company Limited.
KRA loses bid for piece of Sh4.4bn Westgate payout VICTOR JUMA The Kenya Revenue Authority (KRA) has lost a court battle for a share of the Sh4.4 billion compensation that the Westgate Shopping Mall received from Kenindia Insurance following a terrorist attack in 2013. Through the commissioner of domestic taxes, KRA wanted the court to overturn a decision of the Tax Appeals Tribunal that blocked it from demanding Sh380.3 million from the mall owners, Sony Holdings Ltd. High Court judge David Majanja dismissed the appeal saying the Commissioner failed to demonstrate any error in the Tribunal’s decision that would warrant intervention by the court. Westgate owners had argued that the taxman had unfairly classified the compensation as revenue instead of capital to justify the tax demand. However, KRA maintained that Sh600 million of the compensation should have been regarded as income and was therefore liable for payment of 30 per cent corporation tax as Westgate h
KRA loses bid for piece of Sh4.4bn Westgate payout
Wednesday May 05 2021
By JOSEPH WANGUI
Summary
Through the commissioner of domestic taxes, KRA wanted the court to overturn a decision of the Tax Appeals Tribunal that blocked it from demanding Sh380.3 million from the mall owners, Sony Holdings Ltd.
High Court judge David Majanja dismissed the appeal saying the Commissioner failed to demonstrate any error in the Tribunal’s decision that would warrant intervention by the court.
The Kenya Revenue Authority (KRA) has lost a court battle for a share of the Sh4.4 billion compensation that the Westgate Shopping Mall received from Kenindia Insurance following a terrorist attack in 2013.