Tribunal orders Stanbic Bank to pay KRA Sh234m in tax claim

A tax tribunal has ordered Stanbic Bank to pay the Kenya Revenue Authority (KRA) Sh234 million in taxes on payments made to foreign card companies.

The bank appealed to the tribunal after the taxman reviewed their assessment and demanded a further Sh87 million from the initial Sh137 million tax claim.

KRA had demanded withholding and value-added taxes between November 2021 and December 2022, which...