This archive report was first published on 4 October 2019.
Family Bank to Charge Excise Duty on Unpaid Taxes ¶
As of September 5, 2019, Family Bank will start collecting unremitted excise duty from customers' accounts, affecting those with transactions between 2013 and 2018.
The bank claims the duties due over the years will be deducted from users' accounts, citing a remit to the Kenya Revenue Authority.
Excise duty was reviewed to 20% in 2018 from the previous 10% between 2013-2017.
Customers are advised to refer to their closest Family bank manager for a detailed breakdown of the amount in excise duty applicable to their account.
According to the bank's announcement, 'The bank will collect what has not been remitted as per the remit to the Kenya Revenue Authority with effect from 5th September 2019.'
