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Payroll taxes dip Sh37bn on Covid layoffs, salary cuts

Payroll taxes dip Sh37bn on Covid layoffs, salary cuts Summary 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 Kenya Revenue Authority (KRA) has reported a 9.3 percent drop in Pay As You Earn (PAYE) tax receipts in the review period compared to a year earlier when the taxes amounted to Sh399.20 billion. The taxman has blamed the drop from Sh399.20 billion to an estimated Sh362.08 billion on the impact of the pandemic on private sector jobs. Tuesday July 06 2021 By CONSTANT MUNDA

Dollar deposits value dips first time in eight months

Companies Hopeful for Expansion as Global Economies Reopen

Jobs, paycuts slash payroll collection by Sh6 4 billion

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