Nairobi, Feb. 22 -- Swiss multinational security printer, Sicpa, is set to pocket Sh2 billion from the taxman as part of a settlement of pending bills for the supply of excise duty stamps.

The Treasury has allocated the Kenya Revenue Authority (KRA) the money towards settling part of old pending bills of Sh4.48 billion that is due to Sicpa in the mini-budget currently before Parliament.

The KRA and Sicpa entered into a five-year contract for the provision of excisable stamps on a range of consumer products, including soda, bottled water, fresh juices, beer, spirits, cosmetics and cigarettes.

The National Assembly's Finance and Planning committee said the Sh4.8 billion is owed to the supplier of the Excisable Goods Management System (EG...