Africa's GDP Growth Drops to 3.1% in 2023 AfDB
Africa's GDP growth dropped to 3.1 percent in 2023 from 4.1 percent in 2022, attributed to significant structural challenges and multiple severe shocks, including heightened food and energy prices driven [...]
Kenya's Inflation Rises in May after Consistent Drop Since January
Kenya's inflation rose in May after a consistent downward trend since January, driven mainly by increases in transport, food, and housing. The price increase in May was mainly driven by [...]Kenya’s Budget Cycle Falls Short on Transparency Survey
Kenya’s budget making process has failed the transparency test with an international watchdog pointing to insufficient information to the public on how the central government raises and spends public resources. [...]Competition Authority Seeks More Powers to Deal with Abuse of Buyer Power
The Competition Authority of Kenya (CAK) is seeking a nod from the parliament to amend some of its laws in response to emerging issues in the market, including expanding its [...]Gov't Slaps Food Imports and Exports with Levies
The Agriculture and Food Authority has imposed a 2% levy on customs value for the importation of cereals and a 0.3% levy for its exportation. The mentioned levy will be [...]What Tax Experts Think About Finance Bill 2024
Broadly, the Finance Bill 2024 continues the trend witnessed last year with new taxes as well as increases in existing taxes as the Government attempts to collect more. However, these [...]
Kenyan ICT Practitioners to Obtain Gov't Licences Proposed Ministerial Bill
The ICT Authority Bill 2024 proposed by ICT Cabinet Secretary, Eliud Owalo, intends to regulate the sector by demanding practitioners obtain operational licences for the services they provide. Where the [...]Finance Bill 2024: Experts Warn of Taxpayers Exposure as Bill Seeks to Give KRA Unlimited Data Access
Tax experts are raising questions over a proposal in the Finance Bill 2024 seeking to give the Kenya Revenue Authority (KRA) unlimited access to taxpayers’ data, with some nervous that [...]Attempted Coup in DRC Increases Risks of Political Instability in the Region
Although the coup attempt was quickly thwarted, the success of Malanga’s group in accessing the capital, and the heavily guarded Palais de la Nation, will likely also raise questions about likely benefactors and sympathisers.Insurers Oppose Motor Circulation Tax in Finance Bill 2024
Motorists are likely to face higher risks if motor circulation tax in the Finance Bill, 2024 is implemented, Association of Kenya Insurers (AKI) has warned. Aki says this imposition will [...]More Industries Protest Finance Bill 2024
As the May 28th deadline for public participation for theFinance Bill 2024nears, more industry players have opposed proposed tax measures, arguing that it will increase the cost of goods and [...]Finance Bill 2024: Kenyan Banks Oppose 16% VAT on Financial Transactions
The Kenya Bankers Association (KBA) has urged the Government and the National Assembly to reconsider the proposed imposition of a 16% Value Added Tax (VAT) on financial transactions outlined in [...]
