Two directors of a company contracted to set up street lights in two counties earning a total of Ksh 65 million were today charged with failure to pay taxes amounting to KShs.30 million.
Alex Mwenda alias Alexander Stanley Mwenda and Stanley Nyamu, both directors of Tripple Investments Limited appeared before Milimani Court Chief Magistrate Hon. Kennedy Cheruiyot and denied all five counts relating to tax frauds.
Tripple Investments Company was awarded contracts to install and commission street lights by Siaya and Machakos County governments between 2014 and 2017.
The accused were charged with two counts of failing to pay taxes; income tax totalling KShs 19.5 million from March 2014 to February 2018 and Value Added Taxes (VAT) totalling KShs. 10.4 million by failing to declare Kshs 65 million in VAT returns for similar period.
Failure to declare any amounts earned and pay taxes contravenes Section 95 and Section 104 (1) of the Tax Procedure Act of 2015.
They were also charged with counts of failure to submit tax returns for the years 2014 to 2018 as required under provisions of Tax Procedure Act No. 29 of 2015.
The duo was each released on a bond of KShs. 900,000 and alternative bail of KShs. 300,000 with a surety of similar amount. The case will be mentioned on 27th November 2019.