Unsullied News
  • News
  • Politics
  • Books
  • Entertainment
  • Money
No Result
View All Result
Unsullied News
No Result
View All Result
Home News

Kenyans to Enjoy Tax Reduction In Fight Against COVID-19

March 26, 2020
in News
0
7pm to 5am Curfew Imposed In Kenya To Help Curb Coronavirus
424
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

President Uhuru Kenyatta yesterday in his press asdress made some significant changes in tax reduction.

In a move to help Kenyans cope with the pandemic that is Coronavirus, the national treasury will now move to parliament to offer an increased disposable income to the people of Kenya through:

  1. 100% tax relief for persons earning a gross monthly income of up to ksh24000
  2. Reduction of income tax rate Pay As You Earn (PAYE) from from 30% to 25%
  3. Reduction of resident income tax or corporation tax from 30% to 25%
  4. Reduction of turnover tax rate from 3% to 1 % for all micro small and medium enterprises.
  5. Addition of Ksh10B for the elderly, orphans and other vulnerable members of the society through cash transfers by the ministry of labour and social protection to cushion them from the adverse economic effects of COVID -19
  6. Temporary suspension of listing on the Credit Reference Bureau of any person, micro, small or medium enterprises as well as corporate entities whose loan is due or is in arrears effective 1st April.
  7. Reduction of Value Added Tax (VAT) from 16% to 14% effective 1st April 2020
  8. All ministries and departments to pay at least ksh13B of the verified pending bills within three weeks to improve liquidity in the economy to enable businesses stay afloat, the president also encouraged private sectors to clear outstanding payments within themselves within three weeks.
  9. Kenya Revenue Authority (KRA) to expedite the payment of all VAT refund claims amounting to Ksh10B within 3 weeks or allow offsetting of withholding VAT in order to improve cash flow for business.
  10. Ksh1B from universal health kitty to be immediately appropriated towards the recruitment of health workers to support the management of the spread of Coronavirus.

All these measures have been taken to help Kenyans to help kenyans to cope with the hard economic situation during the outbreak of the deadly Coronavirus.

READ: 7pm to 5am Curfew Imposed In Kenya To Help Curb Coronavirus

Tags: CoronavirusPresident Uhuru Kenyatta
Share170Tweet106Share

Related Posts

Rude Reception For Raila Odinga at Burma Market
News

Rude Reception For Raila Odinga at Burma Market

Jeff Koinange Forced To End Interview Midshow After Military Raid.
News

Jeff Koinange Forced To End Interview Midshow After Military Raid.

Trailer Plunges Into Indian Ocean At Likoni Ferry
News

Trailer Plunges Into Indian Ocean At Likoni Ferry

Sonko
News

Mike Sonko To Fearlessly Defend His Seat After Impeachment

News

Nominated Senator Millicent Omanga and Boniface Mwangi Fight Each Other Publicly

Mike Sonko
News

Governor Mike Sonko Impeached

Discussion about this post

Trending

  • Jeff Koinange Forced To End Interview Midshow After Military Raid.

    Jeff Koinange Forced To End Interview Midshow After Military Raid.

    586 shares
    Share 234 Tweet 147
  • Rude Reception For Raila Odinga at Burma Market

    427 shares
    Share 171 Tweet 107
  • Trailer Plunges Into Indian Ocean At Likoni Ferry

    424 shares
    Share 170 Tweet 106
  • Disfigured Body Builder Ronny Rono Dies Of Suspected Synthol Injection

    1395 shares
    Share 584 Tweet 338
  • Rachel Ruto ‘s Steward Found Dead Days After She Went Missing

    1382 shares
    Share 558 Tweet 343

Recent news

Rude Reception For Raila Odinga at Burma Market

Rude Reception For Raila Odinga at Burma Market

Jeff Koinange Forced To End Interview Midshow After Military Raid.

Jeff Koinange Forced To End Interview Midshow After Military Raid.

Trailer Plunges Into Indian Ocean At Likoni Ferry

Trailer Plunges Into Indian Ocean At Likoni Ferry

Sonko

Mike Sonko To Fearlessly Defend His Seat After Impeachment

Nominated Senator Millicent Omanga and Boniface Mwangi Fight Each Other Publicly

Unsullied News

© 2019 Unsullied News -News | Entertainment | Politics | Tech. All Rights Reserved.

Navigate Site

  • Home
  • Contact
  • Privacy Policy
  • Terms of Use

Follow Us

No Result
View All Result
  • News
  • Politics
  • Books
  • Entertainment
  • Money

© 2019 Unsullied News -News | Entertainment | Politics | Tech. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.