News
River Park Estate Developers China Aero Technology International Engineering Corporation Charged For Sh26M Tax Evasion
Three river park estate developers china aero technology have been arrested over a Sh26 million tax evasion scheme Kenya Revenue Authority (KRA) yesterday announced.
Mr Zhang Xiaodong, Mr Ming Zhao and Mr He Youging allegedly failed to remit the amount due in tax after sale of houses in River Park Estate, Athi River. “Investigations revealed that the three failed to declare and remit taxes amounting to Sh26 million from the sale of 171 units,” KRA Commissioner Investigation and Enforcement David Yego said.
The three Chinese real estate firm bosses, directors of Tianyi Limited are expected to be arraigned on Monday.
The taxman has recently been targeting Chinese firms who fail to file tax returns as the number of Chinese investors increases in the country. The multinationals are under investigation over allegations of tax evasion that could run into billions of shillings.
Chinese construction firm, China Aero Technology International Engineering Corporation and its director Huang Hongyou were recently charged with several counts including the failure to file tax returns in the required language.
KRA has recently stepped up the fight against tax evasion in the country after the taxman failed to meet tax targets in the last couple of years.
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