Β Β Β What's on
Β Β Β Things to Do
Β Β Β Plan your Visit
Β Β Β Media Rules and Filming
ππππππ πππππππππππ πππππππππ ππ ππππππππππ ππ π ππππ πππ ππππππ ππππππππππππ πππππ πππππππ ππ ππππππππ ππππ πππππ πππππππ πππππππππ
Officials of a Swiss firm which supplies excise stamps to the Kenya Revenue Authority (KRA) appeared before the Public Investment Committee on Commercial Affairs and Energy to shed light on their contract with the KRA.
The contract mandated the firm, SICPA Security Solutions SA, to provide an Excisable Goods Management System (EGMS) that involved printing, supplying and delivering security revenue stamps to the KRA.
During the session, Committee Chairperson Hon. David Pkosing (Pokot South) asked the management of the firm to explain whether upon the end of their contract with KRA, the EGMS system ownership will be transferred to KRA or it will remain with them.
In their response, SICPA Chief Commercial Officer (CCO), Mr. Gianni Santoro, told the Committee that their contract with the KRA clearly defines the termination process. He said that as per their contract, once the handover and maintenance contract is signed the ownership of the equipment gets transferred to the KRA.
βWe are not holding the KRA hostage as it has the authority and the tools to terminate the engagement with us anytime they want to. The ownership of the equipment is with us but in case of termination of our contract, it can be transferred to KRA upon signing of maintenance contract and after paying the outstanding account balance,β Mr. Santoro told the Committee.
Members also asked questions on why the KRA was charged in Euros instead of Kenya Shillings for the services provided. In his response Mr. Santoro said this was the case because the tender was international.
Mr. Santoro informed the Committee that their initial contract with KRA involved stamps design, development and improvement for implementation on wines, spirits and tobacco. In addition he said that 2015 their scope expanded to stamp design, development and improvement for implementation on beer, soft drinks, juices, mineral water and cosmetics.
According to the CCO, since the company entered into a contract with the KRA, it has produced over 14billion stamps for the Authority.
