Shipment and clearing company Murang’a Forwarders has joined the league of 20 Kenyan firms that the taxman has granted a special status.
The award puts the Murang’a-based firm among the few that have fully complied with the Kenya Revenue Authority’s tax regulations and has, as a result, been granted the Authorised Economic Operator (AEO) status.
KRA launched the award scheme in 2008 as part of reforms aimed at encouraging self-driven tax compliance among Kenyan firms.
Firms nominate themselves and are invited by the taxman for inspection. The companies are inspected for tax compliance record, financial capacity, management systems, information sharing and control of confidential data among others.
“It was a tedious and prolonged inspection that took us seven years to complete,” said Maulik Trivedi, the managing director of Murang’a Forwarders.
Winning the AEO award however puts a company in a prestigious position that spares them the long front office tax verification, facilitates faster processing of their imports and cuts storage charges.
“This is something we are very proud of as a company. Out of 1,500 companies in the sector, we are among the 20 who have been feted this way,” Mr Trivedi said.
“We owe this to the support of our clients, staff and business partners,” he said in an interview with Business Daily.
Murang’a Forwarders deals in shipment, clearing and forwarding and made it to the Business Daily’s TOP 100 SMEs list last year.