Thursday, May 6, 2021

Equity Bank ordered to pay Ksh234m in taxes to KRA

The Kenya Revenue Authority (KRA) has won a Kshs. 234 million tax claim suit against Equity Bank Kenya Ltd after the High Court in Nairobi upheld the Tax Appeal Tribunal’s earlier decision allowing KRA to charge the Bank PAYE on Employee Stock Ownership Plan (ESOP).  Equity Bank had filed an Appeal against the judgement of the Tribunal delivered on 19th December 2019 upholding the KRA’s move. KRA had carried out a tax compliance audit of the Bank’s records with regard to...

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