KRA Uncovers How 72 Companies Generated Fake Tax Invoices Worth Sh33.8 Billion

The Kenya Revenue Authority (KRA) has uncovered a VAT fraud scheme involving 72 companies allegedly used to generate fictitious tax invoices worth Sh33.8 billion. According to KRA, the companies generated electronic invoices that traders allegedly used to inflate VAT input claims and seek illegitimate tax refunds, despite no genuine transactions taking place. KRA says the investigation has helped save an estimated Sh3.9 billion in tax revenue, with six files presented before the court, two suspects having taken plea and warrants of arrest issued against three others who failed to appear in court. The authority has warned traders, facilitators and other beneficiaries of the scheme that more arrests and prosecutions are expected. #KRA #VATFraud #KenyaNews #TaxFraud #CourtNews