Mumbai: Sterling and Wilson Renewable Energy Ltd (SWREL) on Monday said the Kenya Revenue Authorities (KRA) have reduced a tax demand on the company’s Kenya branch for the period 2020–23 to about ₹26.5 crore, nearly halving the earlier demand of ₹51.1 crore.
In a regulatory filing to the stock exchanges, the company said the revised demand follows an order dated December 12, 2025, issued by the Commissioner of Legal and Board Services Department, Tax Dispute Resolution Department, Kenya. The earlier order was passed on September 17, 2025.
The reduction, the company said, is primarily on account of a lower attribution of profits to the Kenya branch, resulting in a corresponding decrease in corporate tax and withholding tax liabilities.
However, the demand related to value-added tax (VAT) and pay-as-you-earn (PAYE) remains unchanged from the earlier order.
The revised demand of around ₹26.5 crore includes interest and penalties and pertains to the calendar years 2020 to 2023. The company said there were no aberrations or non-compliances identified by the Kenyan tax authority in the order.
Sterling and Wilson Renewable Energy added that it is currently evaluating the contents of the order and will decide on the future course of action.