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Banks pay record Sh181bn taxes in year of recovery
From Left: Kenya Bankers Association’s Chief Executive Officer, Dr Habil Olaka, Alice Muriithi, Partner- Tax and Transfer Pricing at PricewaterhouseCoopers Limited (PwC) (centre) and Dr Mohammed Omar Mohamud, Commissioner Strategy, Innovation and Risk Management, KRA during the launch of the 2022 Kenyan Banking Sector Total Tax Contribution study by PricewaterhouseCoopers Limited (PwC)and Kenya Bankers Association on August 2, 2023, at Serena Hotel, Nairobi. PHOTO | BILLY OGADA | NMG
The Kenya Revenue Authority (KRA) collected a record Sh181.2 billion from commercial banks last year as the lenders marked their most profitable year yet.
Data from the 2022 Total Tax Contribution of the Kenya Banking Sector, a collaboration between the Kenya Bankers Association (KBA) and consultancy PwC, shows the sector’s total tax contribution rose by 40 percent from Sh129.5 billion previously.
