Kenya Revenue Authority offices. Photo/nation.co.ke
South Nyanza Sugar Company (Sony) wants the Kenya Revenue Authority to issue a waiver on tax and penalties amounting to Sh657 million.
This is after the sugar miller posted losses of Sh764.8 million in the year to June 2016.
“We were faced with difficult decision to concentrate our milling on cane which has passed its maturity period. The company had 2,773.28 hectares covered with such cane at the beginning of the financial year,” Sony chairman Ambrose Weda said in a statement.
Weda explained that the management made the decision after the miller suffured Sh1.02 billion loss in missed revenue.
“Be that as it may, the decision has ameliorated further losses that would arise from possible litigation associated with contracted over mature cane.