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M-Pesa split will increase taxes, Safaricom tells Parliament

Safaricom says once the split happens, the subsidiary company and those owned by other similar service providers will be at a competitive disadvantage with higher transaction costs. ....

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PwC says proposed tax bill will hurt low-income earners

PwC says proposed tax bill will hurt low-income earners
capitalfm.co.ke - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from capitalfm.co.ke Daily Mail and Mail on Sunday newspapers.

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Tax experts ask MPs to reject plan to deposit half of disputed bill

Currently, courts determine whether the KRA’s demands for security are justifiable and then set the amount to be given either as a deposit or bank guarantee. ....

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Finance bill to hurt small businesses

THE STANDARD
By
Awal Mohammed |
March 17th 2021 at 10:05:41 GMT +0300
Small businesses run the risk of costly penalties from the taxman should they fail to acquaint themselves with the newly introduced tax initiatives by the State, audit firm PricewaterhouseCoopers (PWC) has warned.
The businesses will be now be taxed a one per cent minimum tax on gross turn over - with the Finance Bill 2021 a few days shy of being assented to.
Experts warn the new law is shrouded with numerous grey areas.
PwC Senior Manager and Tax Policy Specialist Edna Gitachu said though the new laws may seem easy to implement, an in-depth analysis reveals intricacies and potential adverse business impacts including ability to utilise existing tax incentives, historical tax losses and tax credits. ....

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PwC: The earlier the better to master minimum tax provisions

THE STANDARD
By
James Wanzala |
March 15th 2021 at 13:51:56 GMT +0300
KRA Head Office in Nairobi (PHOTO: FILE)
NAIROBI, KENYA: PwC Tax experts have appealed to Kenya businesses to acquaint themselves with recently introduced tax initiatives by the government to avoid costly penalties due to non-compliance.
They said this during a virtual webcast on Thursday called, Demystifying Minimum Tax Provisions, which discussed the practical aspects of the minimum tax provisions and how they would impact businesses.
According to Edna Gitachu, Senior Manager and Tax Policy Specialist at PwC, at first glance, minimum tax may seem easy to implement.
“However, an in-depth analysis of the legal provisions reveals some intricacies and potential adverse business impacts. Some of the grey areas that taxpayers are currently grappling with include the ability to utilise existing tax incentives, historical tax losses and tax credits. The commencement date for entit ....

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