The Central Bank of Kenya shifted its target to tighten liquidity, including increasing interest rate and money market operations. But expected inflows due to tea export drove up the exchange rate to about 84 shillings per US dollar on 31 January 2012. Albania...
Rufas Kamau, a Kenyan research and markets analyst, tweeted on May 4 that the 3% tax wa“a joke” and sarcastically asked if it applies to “supermarket and credit card loyalty points.” The tax rate is 3% on every transaction. What a joke!— Rufas Kamau ⚡ (@RufasKe) May 4, 2023...
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 6.38%, culminating in a projected market volume of US$50.26m by 2029. Within the Cinema market in Kenya, the number of viewers is anticipated to reach 1.6m users by 2029. User penetration will be 2.4% in 2024 and...
The Act provides a formula for computing this tax based on the branch’s net assets and profitability. Additionally, the Act reduces the corporate income tax rate for branches to 30% (from 37.5%) beginning with the 2024 year of income. Kenya appears to be adopting an approach that is ...
the graduated income tax bands for all income earned above 6 million Kenyan shillings per annum, at the rate of 35%. As has been the case in the past, the graduated income tax bands apply to employment income, income from services rendered, as well as business income ear...
NAIROBI, June 28 (Xinhua) -- Kenya's digital platform iTax has boosted the country's tax compliance rate, the revenue agency said on Thursday. Benson Korongo, the Commissioner for Domestic Taxes at the Kenya Revenue Authority (KRA), said that more than 2.5 million taxpayers have filed their...
"The revenue collection rate can still be improved, as has been seen in other developing countries that have significantly enhanced their tax collection by ensuring the war on corruption is won, broadening the tax base via simplifying the tax system, lowering rates and reducing unnecessary exemptions...
Kenya's government plans to issue $1.5 billion in debt at a high interest rate of 10.375% to avoid lengthy debt restructuring negotiations with various creditors. This move aims to address concerns about Kenya's ability to repay a $2 billion bond due in June. However, it is a risky ...
Gross Savings Rate (%) 11.9 2023 yearly 2006 - 2023 Investment: % of GDP (%) 16.4 2023 yearly 1964 - 2023 Nominal GDP (USD mn) 26,869.9 Sep 2022 quarterly Mar 2009 - Sep 2022 Nominal GDP Growth (%) 7.780 Jun 2024 quarterly Mar 2010 - Jun 2024 Private Consumption Expenditure ...
Section 13 provides that the income of a registered trust is exempt from income tax. The Finance Act 2006 further provides that contributions made to a tax exempt entity shall be exempt from tax. 7.Lower Rate of Taxation of Partial Motor Vehicle Benefit An employee who enjoys the use of a...