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Excise stamps contract sinks Sh4.7bn hole in KRA books

Auditor General Nancy Gathungu.

Photo credit: Jared Nyataya | Nation Media Group

By  Brian Ambani

Business Reporter

Nation Media Group

The Kenya Revenue Authority (KRA) now owes Sh4.79 billion to a Swiss firm it contracted nine years ago to supply excise stamps.

KRA has attributed the debt to the fact that the stamps were bought at a higher cost than the initial contract price.

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