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Insurance company to pay KRA Sh27 million

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Times Tower Building in Nairobi which hosts Kenya Revenue Offices. [File, Standard]

A tax tribunal has directed Monarch Insurance Company to pay Kenya Revenue Authority (KRA) Sh27.1 million on behalf of its client Alicia Freighters Limited.

The taxman did an audit on its Simba System and during the reconciliation process, it noted that the company had an outstanding unaccounted security body of Sh27.1 million.

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