As businessman Paul Ndung’u is shown his way out of the boardroom of troubled gaming firm SportPesa, the shareholders’ woes are set to deepen further as Kenya Revenue Authority moves in to demand Sh95 billion in tax arrears and penalties.
For months, the troubled betting firm, linked to Bulgarian buccaneers, has been under the taxman’s scrutiny with a team carefully picked to look at the company’s ledgers, agreements, financial statements and invoices.
And now, it is emerging that the tax underpayments by Pevans East Africa Limited, SportPesa’s parent company, were a bad bet and KRA’s demand for Sh95 billion covering three years since 2017 might sink the company.
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