The Kenya Revenue Authority (KRA) and Keroche Breweries Limited (Keroche) have reached an agreement on a payment plan on taxes owing, and not in dispute from Keroche.
This paves the way for Keroche Breweries Limited to reopen after several weeks of closure.
The addendum agreement which sets the stage for the reopening for production of the Naivasha based brewery will see Keroche settle an undisputed tax amount of Kshs. 957 million over a period of two years starting from January 2022.
The payment plan which is contained in an addendum agreement to the two Alternative Dispute Resolution Agreements signed between the two parties in 2021 was arrived at and signed on 14th March 2022 after week-long negotiations.
The addendum agreement which flows from earlier Alternative Dispute Resolution processes will see the rest of the taxes owing from Keroche dealt with as was agreed between the two parties in the Alternative Dispute Resolution Agreements already signed.
The signed addendum agreement will also see the KRA lift agency notices issued to 36 banks lifted.
This is expected to unlock funding for the Naivasha based brewer owned by the family of Tabitha Karanja, who has declared intentions to vie for Nakuru County senatorial seat during this August polls.