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KRA eyes Sh14bn digital services tax from foreign firms in three years

Nairobi, July 20 -- The Kenya Revenue Authority (KRA) has set a Sh13.9 billion tax goal in the next three years through June 2022 from foreign firms using the Internet to market and sell products in K... Read More


New fund to pay laid-off Kenyan workers for 6 months: PS

Nairobi, July 16 -- Salaried employees in Kenya who become jobless will get a fraction of their pay for six months from a State-backed fund aimed at cushioning workers laid off or are unable to work d... Read More


Laid-off workers to get jobless pay for 6 months

Nairobi, July 16 -- Salaried employees who become jobless will get a fraction of their pay for six months from a State-backed fund aimed at cushioning workers laid off or are unable to work due to ill... Read More


Kenya's FDIs fall Sh41bn on Covid, ownership rules

Nairobi, July 15 -- Kenya's foreign direct investment (FDI) inflows dropped $381 million (Sh41.14 billion) in 2020, hurt by Covid-19 restrictions and fresh rules demanding foreign firms in some indust... Read More


Equity pays Sh1.5bn fees for students in top global varsities

Nairobi, July 14 -- Equity Bank Group #ticker:EQTY has offered university scholarships worth nearly Sh1.45 billion to 118 students admitted to some of the World's top universities, including Harvard a... Read More


KRA to hire 6,600 in war against tax cheats

Nairobi, July 12 -- The taxman plans to hire 6,604 more officers in three years in a bid to raise nearly Sh1 trillion additional revenue through the pursuit of tax cheats such as shrewd high-net-worth... Read More


Domestic VAT collection hits 4-year low on Covid

Nairobi, July 9 -- Tax collections on domestic sales have slipped to a four-year low, signalling the impact of Covid-19 woes on consumer spending. The Kenya Revenue Authority (KRA) has reported a 7.9... Read More


Kenya trade lobby seeks to bolster ties with Egypt

Nairobi, July 9 -- The Kenya National Chamber of Commerce and Industry has started talks to revive a framework for strengthening bilateral trade and investment cooperation with Egypt, largely in finan... Read More


Global firms poke holes in Kenya's fiscal deficit target

Nairobi, July 7 -- Global economists have projected Kenya's budget deficit will be wider than the 7.5 percent of gross domestic product (GDP) estimated in the Treasury's budget for this financial year... Read More


Payroll taxes dip Sh37bn on Covid layoffs, salary cuts

Nairobi, July 6 -- Payroll taxes fell an estimated Sh37.13 billion in the financial year ended June 2021, reflecting the impact of Covid-induced layoffs and pay cuts on a tough labour market. The Ken... Read More