The shilling is the currency of Kenya. It is divided into 100 cents. The exchange rate of the Kenyan shilling slumped dramatically in mid-2011, from about 83 shillings per US dollar to about 100 shillings per US dollar at late 2011 and to 105 shillings in September 2015. The Central...
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Kenya updated its excise duty rate on vaping products in 2022. Thecurrent ratesare 40% for devices, and 70 Kenyan shillings ($0.57 US) per milliliter on e-liquid Kyrgyzstan A tax of 1 Kyrgyzstani Som ($0.014 US) per milliliter on nicotine-containing e-liquid Latvia Latviaupdated its ex...
Tax increases in Kenya are backfiring because people are changing their behavior in response to government greed. Unfortunately, that hasn’t stopped the Kenyan government from pushing for further tax increases. Following the horrible advice of the International Monetary Fund, the Kenyan government has...
The Treasury estimated last year that tax concessions on domestic VAT — paid by traders with annual sales of more than Sh5 million— dropped to Sh211.94 billion in 2021 from Sh234.38 billion in 2020. Read:Kenya gets Sh162bn IMF loan top-up on tax reforms ...
Besides the withholding tax, the Kenya Revenue Authority (KRA) collected income taxes of $5.3 million (Sh609 million) from the Kwale operation in the review period, up from $2.8 million (323 million) a year earlier. The government also earned royalties of $7.7 million (Sh882 million...
As at the end of FY 19, MultiChoice Kenya had contributed $573.8 million in direct and indirect investment to the Kenyan GDP for the period 1 April 2015 – 31 March 2019. In the last financial year, the firm paid a total of $17.5 million in direct taxes and $69.6 million in indirect...
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Businesses have in the past year battled the stubbornly rising price pressures on the back of the high cost of materials and energy as well as a weakening shilling in addition to a short supply of dollars. Inflation in the review year ended June 2023 averaged 8.78 percent compared with 6.2...
Kenya Auto Bazaar Association and Car Imports Association of Kenya argue that suspension of payment of import taxes, including value-added tax and excise duty, will free up cash and enable dealers to order used motor vehicles in larger volumes. ...