Nakumatt Main Warehouse in Uganda Seized by the Taxman
The woes facing the once giant retailer Nakumatt just got deeper after the Unganda Revenue Authority seized its main warehouse in Uganda in an effort to recover the more than 8.6 million shillings unpaid taxes.
Nakumatt Supermarket which has already closed down more than six branches in Uganda is going through an enormous financial turmoil with debts running into 30 billion shillings according to records in Kenya.
The Ugandan taxman rained on Nakumatt’s main warehouse in Kampala on Wednesday and it is niw in charge of the distribution. This implies that the one supplying and receiving goods in Uganda is URA and not Nakumatt with the money collected going direct to the Ugandan government. The warehouse also acted as the retailer’s headquarters in Uganda and the taxman is now in charge of its three stores.
According to URA, from Wednesday, all the income Nakumatt is making from the five outlets in Uganda will be remitted to the government until all the taxes are recovered. Among those taken over by URA are delivering trucks registered under Nakumatt, a move that is expected to sink Nakumatt further into the land of no return.