Greek firm behind ballot papers, KCSE exams in KRA crosshairs over Sh1b tax storm

Times Tower Building in Nairobi, which hosts KRA offices. [File, Standard]

A Greek company that printed the 2022 ballot papers and last year’s national exams is now being probed by the Kenya Revenue Authority (KRA) over a Sh1 billion tax claim.

The taxman has opened a probe into possible tax evasion after Inform Lykos (Hellas) SA bagged a €18.7 million, equivalent to Sh2.84 billion, from the Kenya National Examinations Council (KNEC) last year.

That deal was sealed on Delivered Duty Paid (DDP) terms, meaning the Greek firm was supposed to clear all taxes, including VAT, to the tune of Sh781,666,307.74. 

But according to customs officials, when the exam materials finally landed in Kenya, Lykos issued invoices declaring a value of only €4.2 million (Sh638.8 million). The company paid Sh132,174,533.00 instead of the Sh781 million owed, leaving a potential loss of over Sh649 million and with penalties hovering around 30 per cent, the total claim has hit Sh1 billion. 

Acting on intelligence reports, KRA investigators at Times Tower sent a formal letter to KNEC on 26th January 2026, demanding answers. The letter, seen by The Standard, is “Notice to produce records and attend a meeting under Section 59(1)(a) & (c) of the Tax Procedures Act, Cap. 469B Laws of Kenya”, the legal clause that compels any person to produce documents for a tax inquiry. 

In the letter, the Commissioner states, “The Commissioner is making an inquiry into allegations of tax evasion through under declarations of values declared for customs purposes on imports made by Kenya National Examination Council (KNEC) for various exams and other materials covering the period January 2020 to date.” 

Pursuant to that section of the law, KRA required KNEC to furnish investigators with five specific sets of records on or before 9th February 2026.

These include: the signed contract between KNEC and Inform Lykos (Hellas) SA; a schedule of all invoices received from the Greek firm; copies of payment vouchers for payments made to the firm; a schedule of those payments; and schedules of all materials received from Inform Lykos. 

The letter, referenced I&E/NBI/DTIS/3208/026, further invited the KNEC chief executive officer for an introductory meeting. 

So far, sources within Times Towers intimated to The Standard that KRA has also grilled officials from KNEC and a local logistics firm, Ansta Logistics Limited, which handled clearance of the exam papers at the port. 

According to insiders at Times Tower, the dragnet might soon extend to the Independent Electoral and Boundaries Commission (IEBC), specifically the tender for printing ballot papers for the last General Election and subsequent by-elections, which also went to Lykos. 

Records show that in October 2021, IEBC awarded the Greek firm a €19.3 million (Sh2.93 billion) contract to supply and deliver ballot papers, a printed register of voters, and statutory election result declaration forms for the August 2022 General Election.

The company printed more than 120 million ballot papers for the presidential, MP, senator, governor, woman representative, and MCA seats. Former IEBC CEO Marjan Hussein Marjan announced that the printing would take place at the firm’s headquarters in Greece, with a backup site in Romania. 

Lykos is no stranger to African elections it previously printed ballot papers for the 2019 Nigerian presidential election.

In a regulatory filing to the Athens Stock Exchange, the firm stated: “The project refers to the production of election ballots that have the highest security standards, special packaging, air transportation, as well as the traceability process to ensure safe delivery to each constituency.” 

Founded in 1897, Inform P Lykos Holdings SA has been listed on the Athens Stock Exchange since 1994 and today has a leading presence in Central and Eastern Europe in the field of information management, with production units in Greece, Romania, and Albania.

The firm employs approximately 380 people and is a member of the Austria-based Austriacard Group. It provides secure document and information management solutions, including printing and invoicing services for banks, telecommunications companies, and the public sector.