New twist in Akright Estates, MP case
Dec 13, 2009
UGANDA Revenue Authority (URA) is contesting the receipts used to register Executive Property Holdings (EPHOL), a real estate firm owned by MP Henry Banyenzaki.
By Vision Reporter
UGANDA Revenue Authority (URA) is contesting the receipts used to register Executive Property Holdings (EPHOL), a real estate firm owned by MP Henry Banyenzaki.
Akright Projects and EPHOL are locked in a court battle over a sh673m dispute over a botched deal.
Ruhinda Ntengye, the registrar at the Court of Appeal, said some of the receipts were not clear.
James Abuku, the URA non-tax revenue boss, told the registrar that receipt BXG2565168 issued on August 1, 2006 was in honour of St. James SS Jinja’s PAYE not EPHOL.
Other contentious receipts which EPHOL officials claim to have paid tax for the registration of the company are BXG2508168, which was paid by the Uganda Finance Trust for Vicent Baliruno’s PAYE and BXG2207506 paid on January 6, 2006 by Kibuuka AM & Co Advocates for court fees and fines.
Ntengye is due to make his judgment.
and hand over report to Police’s Criminal Investigations Department.
The case arose after Akright Projects entered into a joint venture agreement with EPHOL to develop a 56-acre piece of land in Nansana on Hoima Road. But the deal later collapsed due to disagreements about contributions and delay in the project implementation.
EPHOL later dragged Akright to court purporting that it was wrong for the former to refund individual contributors to the venture, who included 20 MPs who put up sh20m each to finance the venture. Banyenzaki, the firm’s managing director, is claiming sh1.6b in damages.
UGANDA Revenue Authority (URA) is contesting the receipts used to register Executive Property Holdings (EPHOL), a real estate firm owned by MP Henry Banyenzaki.
Akright Projects and EPHOL are locked in a court battle over a sh673m dispute over a botched deal.
Ruhinda Ntengye, the registrar at the Court of Appeal, said some of the receipts were not clear.
James Abuku, the URA non-tax revenue boss, told the registrar that receipt BXG2565168 issued on August 1, 2006 was in honour of St. James SS Jinja’s PAYE not EPHOL.
Other contentious receipts which EPHOL officials claim to have paid tax for the registration of the company are BXG2508168, which was paid by the Uganda Finance Trust for Vicent Baliruno’s PAYE and BXG2207506 paid on January 6, 2006 by Kibuuka AM & Co Advocates for court fees and fines.
Ntengye is due to make his judgment.
and hand over report to Police’s Criminal Investigations Department.
The case arose after Akright Projects entered into a joint venture agreement with EPHOL to develop a 56-acre piece of land in Nansana on Hoima Road. But the deal later collapsed due to disagreements about contributions and delay in the project implementation.
EPHOL later dragged Akright to court purporting that it was wrong for the former to refund individual contributors to the venture, who included 20 MPs who put up sh20m each to finance the venture. Banyenzaki, the firm’s managing director, is claiming sh1.6b in damages.