THE STANDARD By
Peter Theuri |
December 21st 2020 at 10:00:48 GMT +0300
Work in progress at Avoveg Limited, a company dealing in the processing and export of horticultural produce, during the company s post-COVID-19, phased reopening of business to local and international markets. [David Njaaga, Standard]
Manufacturers’ lobby has warned that the move to start taxing small businesses turnover tax will have a huge impact on their business operations.
The Kenya Association of Manufacturers (KAM) now wants the minimum tax abolished or suspended, until when effects of the Covid-19 pandemic, which has affected the economy, is managed.
The manufacturers argue the introduction of the minimum tax will hurt the economy and reduce Kenya’s attractiveness to investors. “Introduction of a new tax based on turnover will hurt a company’s financial well-being such as creating cash flow constraints,” noted the manufacturers’ body.
Studies have shown that there will be more plastic than fish in the ocean by 2050. Marine life will be at risk if we do not act to mitigate the improper disposal of plastic.
As the world continues struggling with proper waste management, different solutions have been suggested and adopted to manage the end-of-life of products, especially plastic and electronics. In Kenya, plastic waste disposal remains a major challenge. Plastic litter and dumped waste are degrading the environment the impact of plastic pollution is felt across the world, with over 8 million tonnes of plastic finding its way into oceans every year.
Tax collections fall Sh100bn as economy reels from Covid
Monday December 21 2020
By CONSTANT MUNDA
Summary
The Treasury says the tax cuts introduced in April to cushion businesses and families from pandemic blows were no longer sustainable, citing persistent revenue collection shortfalls which have slowed implementation of government programmes.
The Treasury estimated on December 4 the government will have foregone about Sh65 billion by end of this month as a result of reduction of maximum income tax to 25 from 30 percent and a cut on value added tax to 14 from 16 percent.
Lawmakers will, as a result, on Tuesday cut short their Christmas holiday to debate and approve or reject a bill to withdraw the tax cuts on earnings and purchase of goods and services from next month.
Manufacturers, consumer lobby push MPs to block end of Covid tax reliefs
Friday December 18 2020
By EDWIN MUTAI
Summary
The lawmakers have been recalled from the Christmas recess to a special session on Tuesday that will determine the fate of the tax relief through a fast tracked debate.
The Treasury says the tax reliefs introduced in the wake of Covid were no longer sustainable owing to persistent revenue collection shortfalls amid a subdued economic activity which affected the implementation of government programmes.
Consumers Federation of Kenya (Cofek) said it was “irrational and unacceptable to revert to higher taxes as if Covid-19 ended three to six months ago.”
Managing the end-of-life of products to accelerate acircular economy in Kenya
By Josphine Wawira Listen to article
Studies have shown that there will be more plastic than fish in the ocean by 2050. Marine life will be at risk if we do not act to mitigate the improper disposal of plastic.
As the world continues struggling with proper waste management, different solutions have been suggested and adopted to manage the end-of-life of products, especially plastic and electronics. In Kenya, plastic waste disposal remains a major challenge. Plastic litter and dumped waste are degrading the environment the impact of plastic pollution is felt across the world, with over 8 million tonnes of plastic finding its way into oceans every year.