Banks cement cash cow status with Sh87.7b tax contribution

Dr Habil Olaka, CEO Kenya Bankers Association, Alice Muriithi, Partner Tax Transfer Pricing PwC Kenya and Dr Mohammed Omar, Commissioner Strategy KRA display copies of the Total Contribution of the Kenya Banking Sector - 2022 report. [Wilberforce Okwiri, Standard]

Commercial banks maintained their position among Kenya's top tax generators, handing the taxman more than a third of all corporate taxes paid in the year to December 2022.

This is according to a new survey published by accountancy firm PricewaterhouseCoopers (PwC), backed by the Kenya Bankers Association (KBA).