Nairobi, Nov. 13 -- The Tax Appeals Tribunal has ordered the Kenya Revenue Authority (KRA) to refund Absa Bank Kenya Sh317.2 million in withholding tax collected in 2020 on card payment fees, after the Supreme Court ruled that the transactions were not taxable.

The dispute concerned payments Absa made to Visa International Services Association, Mastercard Inc. and American Express Ltd, as well as interchange fees shared with banks issuing payment cards.

Published by HT Digital Content Services with permission from Business Daily....