Banks & Tax –Nairobi-based NCBA Bank which is reportedly owned by the Kenyatta family has promised to settle any outstanding tax arrears with the Kenya Revenue Authority KRA.
Speaking on the matter which has since been politicized, Managing Director John Gachora said that they will abide by any court ruling against it.
The MD Clarified that the management of the bank was more than willing to pay any withheld tax of any amount without questioning as long as due process in followed.
The bank said it is willing to part with the claimed sh 350 million waiver they were accorded during the merger of NIC and CBA bank back in 2016.
In his statement, the MD affirmed that, whatever happened during the merger, is a common legal practice world over and nobody should be questioning this process.
“Should the court find that NCBA was not entitled to the waiver, I want to assure Kenyans that we will write a cheque to KRA the following day. That one we are ready” the MD pledged.
Gachora, through his statement, noted that despite the waiver, the bank still managed to pay a tax of sh 4.4 billion to government that same period and that these are some of the facts some people are not saying.
“We are one of the biggest taxpayers in the country. We paid Sh6.7 billion in 2021 and we will pay a whooping Sh14.3 billion tax for the year 2022,” he also said.
Uhuru Kenyatta and the current regime are embroiled in a tax evasion war with the president promising to follow up the matter until any unpaid tax by the Kenyatta family is settled.
