In the application dated 10.06.2023 the Appellant seeks a stay of execution and enforcement of taxes pending the hearing and determination of this appeal. I have heard the proposals by both sides on the nature and extent of security to be imposed by the court as a condition for stay. Bearing in mind the amount due to the Respondent and that the Appellant is a going concern.
I make the following order:
1. The stay of execution and or collection of taxes based on the judgment of the Tribunal is granted pending hearing and determination of the appeal on the terms hereunder.
2. The Appellant shall provide a Bank Guarantee from a reputable Bank in favour of the Respondent for Kshs. 10,000,000.00 within 21 days from the date hereof.
3. In default of such compliance, the order of stay shall lapse.
4. The stay order shall remain in force for one year unless extended by this court.
5. Mention on 07.07.2023 for directions on the appeal.
DATED and DELIVERED at NAIROBI this 14th day of JUNE 2023
D. S. MAJANJA
JUDGE