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Former Prime Minister Raila Odinga and Sundeep Raichura, Zamara Group CEO have been appointed as Advisory Board members to the...
Read moreBenson Mwangi, CEO Metropolitan National Sacco Metropolitan National Sacco boasts over 100,000 members drawn from the Civil service and private...
Read moreJijenge Credit CEO Peter Macharia Demand for education loans is expected to register a record high beginning July when form...
Read moreJames Mwangi, CEO, Equity Bank Group Kenya’s biggest bank by customer number and asset size Equity Bank has received 22...
Read moreThe Kenya Revenue Authority (KRA) is set to collect tax of KShs. 107,046,316 following a decision by the Tax Appeals Tribunal on 28th May 2021 to dismiss an appeal filed by KCB Insurance Agency Limited. The Taxpayer had contended that KRA’s treatment of its income earned from services provided to KCB Risk Margin Fund (RMF) as consultancy fees, which are subject to VAT, is erroneous. The Taxpayer informed the Tribunal that KRA conveniently disregarded the fact that the Risk Margin Fund (RFM) services to KCB were provided by the Taxpayer, acting in the capacity of an insurance agent whose services were expressly exempt from VAT during the period under review. KRA successfully defended its actions and informed the Tribunal that the Taxpayer’s claim that the fee on administration of KCB Bank’s RFM is premium-based commission, which is exempted from Excise Duty is erroneous. The Tribunal reviewed the evidence as presented by both parties and held that KRA was authorised by the law to demand and charge late payment penalty and interest on VAT and Excise Duty not timeously remitted by the insurance agent.
Read moreCredit Bank Plc has announced a partnership with CapitalPlus Exchange Corporation (CapPlus) and Eneza Education that will see the bank’s...
Read moreStanchart Bank A Standard Chartered PLC unit intends to establish a cryptocurrency brokerage and exchange platform in Britain and Europe,...
Read moreCharterhouse Bank | Picture Courtesy Kenya Deposit Insurance Corporation (KDIC) announced that customers of liquidated Charterhouse Bank who have insured...
Read moreFamily Bank has today received formal approval from the Capital Markets Authority to raise up to KES 8 billion in...
Read moreAfrican governments have been challenged to rethink revenue mobilisation strategies as the impact of the Covid-19 pandemic continues to exacerbate...
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