Banker John Ngumi pays Sh111m tax for his Telkom deal fees

DNBungeNgumi1904w

Investment banker John Ngumi. PHOTO | DENNIS ONSONGO | NMG

Investment banker John Ngumi last month paid a tax of Sh111.9 million from his juicy fee for advising the government’s acquisition of Telkom Kenya Limited for Sh6.2 billion.

Mr Ngumi paid the Kenya Revenue Authority (KRA) on April 18, days after he was grilled by a parliamentary committee over his role in the deal.

PAYE Tax Calculator

Note: The results are not exact but very close to the actual.