The Commercial Bank of Africa (CBA) has unveiled a new banking service in partnership with the Kenya Revenue Authority (KRA) to enable the public to pay taxes through the lender.
“By paying your Customs taxes, Domestic taxes and Kentrade payments through CBA, you enjoy Real time update of your tax entries with KRA,” said John Okulo, General Manager, Corporate and Transactional Banking, CBA Kenya.
Taxpayers can pay taxes through any of the bank’s branches countrywide or through its internet banking platform.
The service targets corporate and entrepreneurs but CBA recognizes the huge and growing potential among individual clients in the import business.
Lydia Ng’etu, Assistant Manager, Finance Division KRA said, “We are glad to have CBA integrate their systems with ours to allow this convenient and efficient way to make payments.”
KRA is constantly seeking partnerships to make tax payment and collection convenient and efficient.
The Authority recently won the Best in Class Treasury Solution in Africa category at the 2016 Adam Smith Awards for its efforts in using IT to transform revenue collection in Kenya through the iTax and Simba system platforms which allow users to file taxes electronically avoiding physical paperwork.
With this partnership, the taxman aims to encourage compliance in the payment of taxes.
The service will also be open to taxpayers who do not bank with CBA.