Keroche Breweries has reached a new deal to pay undisputed tax arrears to Kenya Revenue Authority (KRA) in the next 24 months.
KRA, in a statement on Wednesday, said the brewer will pay Sh957 million in the two year period starting from January 2022.
The payment plan which is contained in an addendum agreement to the two Alternative Dispute Resolution Agreements signed between the two parties in 2021 was arrived at and signed on March 14, 2022, after week-long negotiations.
The agreement sets the stage for the reopening for production of the Naivasha based brewery.
The agreement which flows from earlier Alternative Dispute Resolution processes will see the rest of the taxes owing from Keroche dealt with.
The signed addendum agreement will also see the KRA lift agency notices issued to thirty-six (36) Banks lifted.
The KRA seeks to encourage dialogue and amicable resolution of tax disputes.
Last week, Keroche Breweries requested Kenya Revenue Authority to give them an 18-month grace period to pay all its tax arrears.
Keroche chief executive officer Tabitha Karanja said the requested period of uninterrupted operation is enough to clear the outstanding Sh832 million tax arrears.
"Our humble appeal to the Commissioner-General is to kindly but urgently re-open our plant to prevent huge losses. We would wish to resume production, sales and distribution of our products to protect and safeguard the livelihoods of thousands of Kenyans employed by the company both directly and indirectly."
She requested a meeting with the KRA boss to discuss her proposed payment plan.
KRA had earlier said that the troubled firm owes it Sh22.79 billion in unpaid taxes.
