Billionaire business mogul Humphrey Kariuki mogul is having sleepless nights after the government executed a recovery process of his massive alcohol business in Thika.
Indeed, officials from the Kenya Revenue Authority began a massive recovery project on Kariuki’s African Spirits Limited (ASL),
which is one of the largest alcohol manufacturing plants in East Africa and, ironically, has been one of the most vocal in the fight against counterfeits and illicit liquor.
Moreover, the company’s woes have been aggravated further by the Excise Duty Act of 2015, which was amended last year to allow KRA to confiscate any goods found within a factory or premises where a tax offence has taken place.
ASL is the company behind
Glen Rock, Legend Black, Blue Moon, and Legend brandy.
Here’s what the KRA commissioner had to say about the situation:
“The law is very clear; if you are caught with fake stamps and once we have legally verified that a law has been broken, Section 31 of Finance Act 2018 gives us powers to seize the plant and the goods,”