Citibank fails in bid to quash Sh127 million tax demand

A man walks by a Citibank branch at the US bank Citigroup world headquarters on Park Avenue, in New York. FILE PHOTO | AFP

Citibank Kenya Branch has suffered a blow in a bid to quash a tax demand of Sh127 million arising from income services offered to the United Nations and its agencies in 2013.

High Court judge David Majanja said the Kenya Revenue Authority (KRA) was entitled to charge and collect excise duty in respect of "other fees" from January to July 2013, in so far as the same did not include interest.

PAYE Tax Calculator

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