Titanium company seeks Sh2 billion in VAT refunds

Australian-based Mining firm Base Titanium Ltd says it is owed Sh2 billion in Value Added Tax (VAT) by Kenya Revenue Authority. According to a statement from the company which operates a mineral project in Kwale County, the amount is yet to be settled by the taxman.

The firm says most of the refunds were accumulated during the construction phase of the Kwale Mineral Sands Project. “Base spent about Sh26 billion building the project which now produces minerals exclusively for the export market,” said the firm’s Managing Director Tim Carstens in a statement.