British American Tobacco (BAT) Kenya has strongly dismissed allegations of financial discrepancies in a report by The Investigative Desk, titled Missing Millions: A Cross Examination of British American Tobacco Kenya's Tax Bill, published on February 12, 2025.
BAT Kenya Managing Director Crispin Achola stated that the company conducted a thorough review of the report and found it to contain 'numerous errors and misrepresentations' of the company's financial disclosures and tax obligations.
"As a public company listed on the Nairobi Securities Exchange, BAT Kenya publishes financial disclosures in its Annual Reports and audited Financial Statements in line with the applicable local regulations and international reporting standards," Achola said.
He added that the company's financial records had been audited both by external auditors and regulators, including for the years 2017 and 2018, which were referenced in the report.
Achola criticized the methodology used in the report, stating that its authors applied 'erroneous assumptions' in their calculations of BAT Kenya's revenues, profits, and tax dues.
He noted that the figures were based on incorrect pricing, a disregard for trade margins, and misrepresented deductible costs.
BAT Kenya also noted that in June 2024, it had received a request for comment from The Investigative Desk but was not informed about the methodology used in the report's analysis. The company claimed it had cautioned that the resulting figures would be overstated.
"It is disheartening to see that The Investigative Desk chose to ignore the facts in favor of sensational and misleading reporting," Achola said, adding that the company was considering its options regarding the report's impact.
BAT Kenya reiterated its commitment to conducting business in compliance with laws, regulations, and internal corporate guidelines.
Copyright 2025 Capital FM. All rights reserved. Distributed by AllAfrica Global Media (allAfrica.com)., source News Service English
