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How VAT export ruling will hit Kenyan firms, multinationals

Multinationals and persons who export services from Kenya including cross-border consultancies have been dealt a blow.

Kenya , Kenyan , Kenyans , Christine-kahema , Robert-waruiru , Hedwig-ongundi-imbosa , National-treasury , Draft-national-tax , Kenya-revenue-authority , High-court , Value-added-tax , Finance-act

Kenya to Employ Mobile Money to Fight Tax Evasion

Kenya has introduced a new policy aimed at using mobile money to curb tax evasion in that country. This week, the Kenyan government released its Draft Budget Policy Statement which highlights its economic plans. Part of the statement revealed that revenue collection by the Kenya Revenue Authority (KRA) will be…

Ghana , Kenya , Kenyan , Kenyans , Kenya-revenue-authority , Ghana-revenue-authority , Draft-budget-policy-statement , Income-tax ,

馃懆馃徔鈥嶐煔 TechCabal Daily - Tanzania reverses

Tanzania's transport regulatory authority has reversed the 15% cap on commission fees collected by ride-hailing apps. Now, Tanzanian ride-hailing drivers will pay up to 25% in commission fees to operators like Bolt and Uber. More in #TCDaily.

Japan , Kenya , Nigeria , Kwara , Zamfara , Brazil , South-africa , Tanzania , Senegal , Olugbade , Nigeria-general- , Ethiopia

How counties are spending your billions

THE STANDARD
By
Dominic Omondi |
February 3rd 2021 at 00:00:00 GMT +0300
Some of the top-performing counties include Ali Roba’s Mandera (83.8 per cent). [Edward Kiplimo,Standard]
Even before Mike Sonko met his Waterloo at the Senate in December last year, his legacy as governor of Nairobi was in a free-fall.
Official data shows that the flamboyant politician, who was impeached on allegations of abuse of office, had one of the worst development records in his last financial year at the helm of City Hall.
The percentage of cash the capital city absorbed in the 12 months to June 2020 for projects that would generate cash was the lowest among the 47 counties.

Meru , Eastern , Kenya , Wajir , North-eastern , Homa-bay , Nyanza , Nyandarua , Central , Nairobi , Nairobi-area , Kwale

Debt repayment pain to resume sharply in July as 'painkiller' of suspension ends

THE STANDARD
BUSINESS NEWS
The National Treasury building, Nairobi. July 9, 2020. [Elvis Ogina, Standard]
The six-month anaesthesia on Kenya’s debt repayment burden will wear off in July, with the pain of meeting its debt obligations rising sharply.
In the upcoming 2021-22 financial year, the country’s debt service is projected to increase to Sh436 billion, up from an earlier estimate of Sh406 billion.
This lends credence to experts’ opinion that the cash-strapped National Treasury has only been postponing its liquidity crisis through the debt service suspension initiative (DSSI) done under the G-20 framework.
Payment of public debts and interest takes first charge, a situation that has seen most of the country’s revenues go to paying off creditors at the expense of other critical public services such as health, education and security.

Japan , Paris , France-general , France , China , Nairobi , Nairobi-area , Kenya , Canada , Zambia , Germany , Nigeria

Tough balancing act as Sh3tr Budget to secure Uhuru legacy

THE STANDARD
President Uhuru Kenyatta at State House, Nairobi, during the 2020 virtual African Delivery Exchange Conference. The 2021-22 Budget will the last full spending plan his administration will oversee. [File]
The government will spend Sh3 trillion in the year to June 30, 2022, pushing President Uhuru Kenyatta’s eight-year total spending to Sh18.5 trillion.
But as fate would have it, the president’s fiscal policy - which largely depends on massive spending and public revenue - might end as it started: with high expenditure needs, decreasing tax revenues and increased borrowing.
Thanks to the Covid-19 pandemic, the Treasury will chalk up more debt, borrowing Sh937.6 billion to plug a budget hole caused by the virus, which has left the economy on its knees.

Nairobi , Nairobi-area , Kenya , Kenyan , Kenyans , Kazi-mtaani , Uhuru-kenyatta , Ukur-yatani , Jomo-kenyatta-international-airport , Stimulus-programme , National-treasury-cabinet , Kenya-revenue-authority

Tough balance as Sh3tr Budget bids to secure Uhuru legacy

THE STANDARD
President Uhuru Kenyatta at State House, Nairobi, during the 2020 virtual African Delivery Exchange Conference. The 2021-22 Budget will the last full spending plan his administration will oversee. [File]
The government will spend Sh3 trillion in the year to June 30, 2022, pushing President Uhuru Kenyatta’s eight-year total spending to Sh18.5 trillion.
But as fate would have it, the president’s fiscal policy - which largely depends on massive spending and public revenue - might end as it started: with high expenditure needs, decreasing tax revenues and increased borrowing.
Thanks to the Covid-19 pandemic, the Treasury will chalk up more debt, borrowing Sh937.6 billion to plug a budget hole caused by the virus, which has left the economy on its knees.

Nairobi , Nairobi-area , Kenya , Kenyan , Kenyans , Kazi-mtaani , Uhuru-kenyatta , Ukur-yatani , Jomo-kenyatta-international-airport , Stimulus-programme , National-treasury-cabinet , Kenya-revenue-authority