KRA freezes GNLD’s bank accounts in tax demand

KRA writes to the South African food company’s Kenyan bank, which it appoints as an agent and demands at least Sh131 million in taxes.

A popular global food and nutrition company with offices in Nairobi has had its bank accounts frozen on allegations of tax evasion by the Kenya Revenue Authority (KRA).

In a letter earlier this year to Neolife International Limited, makers of popular GNLD health brands, KRA accuses the company of under-declaring its stocks portfolio, which resulted in it paying far less taxes than what it ought to have paid.