A businessman was yesterday charged with sh 58 million tax evasion following allegations of indulging in “missing trader” scheme. David Ngari Ndiritu, who is the sole proprietor of Aberdare Solutions is said to be a beneficiary of the ‘missing trader’ tax evasion scheme, a tax fraud syndicate where a taxpayer uses several registered business names for fictitious invoicing. In two counts, Ngari is accused of using fictitious invoices from Bosco Enterprises and Davron Petroleum Limited to illegally claim Value Added Taxes(VAT) refunds of Kshs.14 million and KShs.6.6 million respectively. In three other counts,the businessman is accused of failing to declare earnings in VAT amounting to Sh 133 million hence reducing VAT liability by about Sh 21.5 million. The court thus released Ngari on a Sh 500,000 bond with an alternative cash bail of Sh100, 000.

Source: The Star November 23, 2019 00:56 UTC