KRA Clarifies Tax on Deposits, World Bank Warns on Bank Loans, and PS Reveals eCitizen Revenue - September 2025

The Kenya Revenue Authority (KRA) has clarified that a recent tribunal ruling does not grant it blanket powers to tax all bank deposits. Instead, the ruling affects only deposits that lack proper documentation, which are deemed taxable income under the Income Tax Act. On a broader economic note, the World Bank expressed concern over increasing non-performing loans in Kenya's banking sector, warning they threaten to cause losses for local banks and erode capital buffers. Meanwhile, Immigration Principal Secretary Belio Kipsang revealed that three technology firms maintaining the eCitizen platform earn over Ksh3 million daily. This disclosure comes amidst criticism over a Ksh50 convenience fee which an audit report deemed unlawfully imposed.