Housemart Company Limited is not the same again after massive allegations of fraud, tax evasion, and other rot ruined its image.
Additionally, its directors and other bosses are enraged by bitter corruption sprees that have caused loss of taxes in countries of operations.
For instance, in Kenya, the Kenya Revenue Authority (KRA) is embroiled in a Sh 3B tax evasion scam with Housemart Company Limited in what is considered the mother of all the scandals in the East African country.
Yesterday, a magistrate directed that the prosecution supply the defense team of the controversial Chinese businessman Ye Wei with witness statements and documentary evidence.
The said witnesses will be relied on by Mr. Ye Wei in a tax default case he is facing.
The court further directs that Mr. Ye Wei appear back in court before Principal Magistrate Kenneth Cheruiyot for further directions.
In the case, Wei pleaded not guilty to several counts of tax evasion amounting to Sh3 billion.
Further investigations reveal that Wei has been corrupting some officials with the Kenya Revenue Authority to help him avoid paying taxes.
Back in court, the magistrate directed that the case proceed on November 13 for further mention.
ding to the court papers, Ye Wei, the director of Housemart Company Limited, has been charged alongside the firm with four counts of tax evasion contrary to the law.
According to the charge sheet, on diverse dates, 1st January 2016 and 30th June 2017, within the Republic of Kenya, jointly with others not before the court, willfully defaulted to pay Sh 583,353,575, being income tax payable to the Commissioner of Domestic Taxes.
The accused person is also accused of failing to pay Sh 154 million in tax for 1st January 2017 and 30th June 2018 and another Sh 85, 082, 282 for 1st January 2015 and 30th June 2016.
Between 20th January 2016 and 20th December 2017, he is charged with defaulting on pay Sh 3, 232,584.773.
He denied the charges before Chief Magistrate Francis Andayi, who granted him a bond of Sh 2 million or alternative cash bail of Sh 1 million.
The matter will be heard on 21st November 2018. At the same time, KRA wants the High Court to set aside orders suspending the decision to freeze Chinese firm accounts over Sh 2.2 billion in tax arrears.
According to the taxman, the company, whose owners and directors are foreigners, has no known assets in Kenya, and if the orders are not set aside and the funds siphoned, they will have nothing to hold on to.
KRA argues that Housemart has been under-declaring sales and claiming input VAT fraudulently, thereby suppressing the tax payable.
KRA argues that if the orders are not reviewed, it is prejudicial and will deny the Commissioner of Investigation and Enforcement, the Commissioner of Customs and Excise, and KRA an opportunity to preserve the funds to secure taxes.
