Kingstar General Hardware Limited
Directors of Kingstar General Hardware Limited located in Hoima have been arrested for evading taxes.
Both Sohil Kumar and Amarshibhai Andani, directors of the hardware in question were arrested following intelligence reports about their continuous issuance and selling of fictitious invoices to different companies.
Reports verified by URA officials indicate that these directors declared falsely generated invoices as output VAT in the period of 2018-2022.
Also some of the beneficiaries such as China Railway No.3 Engineering Group Limited and Krisha International Limited wrongly claimed Input VAT during the same period which amounted to UGX. 746,988,702 from fictitious purchases worth UGX. 4,149,937,234.
With this background, the directors were also charged in the Anti-Corruption Court on 4th August 2023 to respond to the accusations against them. In court, URA was represented by its two lawyers – Hilda Atusimire and Stella Nayebare.
Although the accused have since been granted cash bail of UGX10,000,000 each and a non-cash bail of UGX. 50,000,000 for each of their seven (07) sureties, they will return to court on September 4th for further hearings.
Denis Kugonza, URA’s Commissioner Tax Investigations, urges the public to desist from these vices of mis-invoicing and embrace Electronic Receipting & Invoicing Solution(EFRIS) and Digital Tax Stamps(DTS) to create a level playing ground for all legitimate business persons.
-The Taxman
