News
New X-Tigi Technology Limited Director Gao Fei Charged With Sh194M Tax Evasion
A Chinese investor has been charged before a Nairobi court with tax evasion amounting to Sh194 million.
The accused, new X-Tigi Technology Limited director Gao Fei, who has been on the run, appeared before Milimani Resident Magistrate Muthoni Nzibe where he was charged with failure to declare and remit taxes for a period of eight months that was commensurate to the company’s sales. He denied the charges.
Mr Fei was accused that on diverse dates between January 2015 and June 2016, in Nairobi being the director of New X-Tigi, he failed to pay VAT amounting to Sh194,357,743 for the year starting January 2015 to July 2016.
Prosecution accused Fei that on June 30, 2016 in Nairobi, being a registered taxpayer PIN No. P051576009G, had failed to submit tax returns for the year 2016 as of due date June 30, 2016 to KRA.
It was further alleged that on June 30, 2015 in Nairobi, being director of New X-Tigi Technology Limited, Mr Fei failed to submit tax returns for the year 2015.
The prosecution opposed the release of the accused on bail, stating that the accused person was a flight risk. He was however released on a cash bail of Ksh150,000 with a bond of sh1 million and ordered to deposit his passport in court pending hearing which is scheduled for September 26, 2019.
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