The High Court has stopped KRA from freezing a Chinese firm's assets over Sh3.5 billion in outstanding tax returns. Last Monday, KRA issued notices to four banks where the firm holds accounts demanding payment of Sh3,534,648,695 to recover taxes. But the firm claims the taxman's demands are unjustified and are a threat to its ongoing projects in the country. He said the firm submitted the self-assessment returns but KRA has refused to audit this and determine correctness. Read: Chinese national acquitted in Sh66 million tax evasion caseAlso read: Freeze bank accounts of Chinese firm importing smartphones, KRA asks court

Source: The Star April 18, 2017 18:11 UTC