In 2017, ASBIR conducted a tax audit on Polaris Bank. Subsequently, the Board issued the Bank with a demand notice accompanied by a tax assessment for payment of outstanding taxes and levies comprising of Withholding Tax (WHT), Pay as You Earn (PAYE), Development Levy, Business Premises Levy as well as interest and penalties for under remittance of its tax liabilities for 2006 – 2011 tax years. The Bank objected to the assessment and subsequently appealed to the TAT.

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