Treasury to settle Sh10 billion bill in VAT refund claims next month

KRA Commissioner General John Njiraini. He says Treasury plans to clear VAT refunds backlog by April. [PHOTO: BEVERLYNE MUSILI/STANDARD]

Investors can now breathe a sigh of relief as the Government moves to finally clear Value Added Tax (VAT) refunds owed to them by the taxman.

This follows years of delays with the private sector taking the issue up with the President. The taxman says the National Treasury will settle VAT refunds worth Sh9 billion once all the claims have been verified. “National Treasury has already formed a committee to verify the claims with the process expected to be completed at the end of this month,” said John Njiraini, KRA Commissioner General.