The Kenya Revenue Authority (KRA) and Equatorial Commercial Bank (ECB) have announced a partnership to roll out the online tax remittance system dubbed iTax. The move is geared at facilitating electronic collection of domestic taxes.
ECB acting MD Shamira Dostmohamed pointed out that the new platform will facilitate efficiency by integrating its core banking system with the KRA to enable corporate clients pay their taxes electronically. “We are leveraging technology integration and sustained innovation to deliver an unrivalled customer experience. We believe that our customers and prospects deserve to benefit from the convenience that electronic banking platforms can provide,” noted Ms Dostmohamed.
The service is already working on the KRA website and will enable taxpayers to remit their taxes conveniently from any part of the country. “The move aims at digitizing payments by placing our clients’ needs at the forefront of product innovation. Being a web enabled service, iTax is available round the clock from any location, thus redefining convenience to the tax payers and also improving compliance by reducing cases of tax evasion,” added Ms Dostmohamed.
The taxman has lauded the synergy with ECB as a new dawn towards realizing tax collection targets, increase reach and tax compliance. “It is in this regard that banks are required to integrate their core banking systems with iTax and provide a front end payment platform for their mutual clients. Through iTax, customers can enjoy automated reconciliation making it very convenient for both the tax payer and KRA,” acknowledged KRA.
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