Companies Absa loses Supreme Court push in credit card royalties tax duelAbsa head office in Westlands, Nairobi. Dissatisfied with the decision, Absa went back to the Appellate court to be allowed to challenge the decision before the Supreme Court. Dissatisfied with the decision, Absa went back to the Appellate court to be allowed to challenge the decision before the Supreme Court. Absa maintained the payments to the three card companies were not royalties and that the KRA had no basis for demanding withholding tax. The taxman held that the relationship between Absa and the card companies was reflected in the membership and trademark licence agreement, which granted the bank the permit to use the card companies’ marks.

Source: The North Africa Journal November 08, 2021 04:01 UTC