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flag Kenyan banks and microfinance firms paid $1.4 billion in taxes in 2024, accounting for 8% of national revenue.

flag Kenyan banks and microfinance institutions paid Ksh194.81 billion in taxes in 2024, making up 8.09% of the country’s total tax receipts. flag This included Ksh100.12 billion in direct taxes and Ksh94.69 billion collected on behalf of the government, such as PAYE and withholding taxes. flag Corporate tax dropped 4.98% year-on-year, but people-related taxes surged, driven by the Affordable Housing Levy, which more than doubled to Ksh3.45 billion. flag The sector’s tax contribution reflects strong financial performance, with major banks reporting significant profit growth. flag Officials urged tax reforms to ease burdens on workers and broaden revenue sources beyond salaried income.

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