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Of this, personal income tax refunds worth Rs 5,575 crore were issued in over 12.71 lakh cases and corporate tax refunds of Rs 11,486 crore were issued to 29,592 taxpayers. ....
03 May 2021 The government has issued notifications, providing various relief measures for taxpayers, in view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods and Services Tax (GST) due to the outbreak of the second wave of Covid-19 pandemic. Accordingly, delayed tax payments will be subject to lower rates of interest in lieu of the normal rate of interest of 18 per cent. For registered persons having aggregate turnover above Rs5 crore a lower rate of interest of 9 per cent for the first 15 days from the due date of payment of tax and 18 per cent thereafter, for the tax payable for that periods. March 2021 and April 2021, payable in April 2021 and May 2021 respectively. ....
Power, energy and water corporations lead State agencies with huge unpaid loans, with the national carrier following closely in the list of debtors. ....
THE STANDARD BUSINESS NEWS Times Tower building in Nairobi, CBD. [Courtesy] The National Government will have to spend more money to bail out parastatals as they continue to default on loans they have taken. Data from the National Treasury shows that the bulk of State corporations continue to default on loans advanced to them, with only a handful servicing the same. Power, energy and water corporations lead State agencies with huge unpaid loans, with the national carrier following closely in the list of debtors. KenGen, which leads the pack, is currently servicing a Sh115 billion loan followed by Kenya Power, which has a loan of Sh75 billion as of last year June. ....