KRA to Pay Interest on Delayed Refund on Overpaid Taxes-Finance Bill 2024
The Kenya Revenue Authority (KRA) has been put under pressure to fast track refunds of taxpayers who in the process of meeting their tax obligations make excess payments. “Where a [...]
Insurers Risk Penalties on Failure to Collect Motor Vehicle Tax-Finance Bill 2024
Auto insurance companies risk penalty on failure to collect and remit to the Kenya Revenue Authority (KRA) the annual taxes on motor vehicles as prescribed in the Finance Bill 2024. [...]Kenya Exempts Zimbabweans from US$ 30 ETA Fees
Kenya has exempted Zimbabwean travellers heading into the country from paying the Electronic Travel Authorisation (ETA) when applying to visit. Before the introduction of the eTA system, citizens from 51 [...]Bribes and Bush Clearing
When working with international investors you’ll have to do some cross-cultural translations which go beyond language. It took me 5 years to learn so maybe I can save you some [...]
Inside the Finance Bill 2024: New Taxes, New Powers for KRA
The legislative process for the next fiscal year’s budget will begin today, when the Finance Bill 2024 undergoes its First Reading in a special sitting of parliament. In a bid [...]
Achieving Compliance: Best AML Practices for Businesses in Kenya
Tech and financial companies operating in grey listed countries like Kenya have started strengthening their verification processes to counter chances of flow of dirty cash through their systems. In mid [...]Counties Need Further Investment in Knowledge to tap Green Finance-FSD Study
Counties need to be appraised on sustainable practices to enable them tap into the green financing to complete different development projects in the devolved units, a recent study by the [...]Cost of Living Eases to 5% in April, Supported by Fuel, Food Index
The cost of living (inflation) eased in the month of April from 5.7 per cent in March to 5.0 per cent in April, new data from Kenya National Bureau of [...]Africa's $824bn Debt Burden is Hindering its Potential-AfDB President
Africa's massive debt load and the nature of many of its resource-backed loans are compromising its economic potential, the African Development Bank's (AfDB) President Akinwumi Adesina said recently. I think [...]Digital Tax Wave Spreads across Africa
African countries are racing to enact rules for non-resident suppliers to account for taxes on electronically supplied services (ESS), a new report by PwC indicates. “As the digital economy continues [...]Excise Duty on Digital Loans will Increase Defaults, Harm Tax Revenues
The controversial 20% excise duty on digital credit is likely to be counterproductive and result in less tax revenues, digital lenders and sector strategists have said. Raising the cost of [...]Unease among Civil Servants as Kenya Moves to Contain Wage Bill
Human resource operations in the public service are headed for a shake up as the government moves to reduce its wage bill to 35 per cent against revenue by the [...]
