Page 30 - Minimum Tax News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The Tax Laws (Amendment) (No. 2) Bill, 2020 (the Bill) has been gazetted with the view of making changes to various tax laws as discussed further below. Once enacted, the Bill shall come into force on 1 January 2021. However, we note that the National Assembly is currently in recess up to 8 February 2021 and it is therefore unclear whether it will be reconvened earlier to pass the Bill and have it in force by 1 January 2021. Amendments to the Income Tax Act, Chapter 470, Laws of Kenya (the ITA) 1. Clarity on the Provisions on Minimum Tax The Finance Act, 2020 amended the ITA to the effect of

Cambodia has issued incentives on December 23, 2020, ranging from tax holidays to financial aid for businesses impacted by the pandemic.

Bakers Forced to Reduce Bread Prices Loaves of bread being baked at a bakery Twitter Bakers have been forced to reduce the price of bread nearly two weeks after loaves of bread traded at Ksh 50 and Ksh 75.  Supermarkets and retailers recently sold bread from bakers at Ksh 55, but retained their own in-house baked bread at Ksh 50. As a result, consumers opted to purchase the in-house baked bread as opposed to the bakers' bread which saw the suppliers incur loses.  Shopkeepers within the city concurred, disclosing that customers settled for less known bread and left the renowned brands sitti...

Treasury CS Set to Raise Taxes in New Budget Plan 26 January 2021 - 7:32 am Treasury CS Ukur Yatani (right) poses for a photo at Treasury Headquarters, Nairobi on Thursday, June 11, 2020, ahead of Budget 2020/21 presentation File Treasury CS Ukur Yatani is contemplating raising taxes to fund the country's 2021/22 Ksh 3 trillion budget as the government attempts to avoid taming its borrowing appetite.  The CS, on Monday, January 25, released the 2021 Budget Policy Statement (BPS) for public participation. The document disclosed that the 2021/22 budget was estimated to be Ksh 216 billion more ...

Ex-Congress chief Rahul Gandhi on Saturday, claimed that the Centre had crippled the MSMEs and the economic system by imposing the GST law at Coimbatore rally