Local banks are this month expected to fully comply with the requirement to share the details of foreigners’ accounts with Kenya Revenue Authority (KRA), for onward transmission to the respective jurisdictions after the lapse of the August 31, 2024 deadline.
Commercial banks in February started identifying foreign customers who maintain accounts in Kenya ahead of the initial May 31 deadline. The requirement for filing was however extended to August 31, making September the first reporting month for the institutions.
