(b) Any resolution declaring or resolving upon the payment of a dividend or other distribution on shares of any class, whether a resolution of the Company in general meeting or a resolution of the Board, may specify that the same shall be payable or made to the persons registered as the ...
“The greatness and patriotic devotion of the people of Kenya have been on display during the past year. Together, we have made the right choices, sometimes taking very difficult and painful decisions, to steer Kenya back from the edge of the catastrophic cliff of debt distress, ...
The doubling of VAT on fuel to 16 percent in July, after multiple failed attempts in the past, is part of those reforms. “First Schedule (exemption) and Second Schedule (zero-rating) to the VAT Act will be reviewed to rationalize the exempt and zero-rated supplies and al...
The Global Solidarity Levies Task Force (GSLT), led by France, Barbados and Kenya, is exploring the issue. Below are extracts from its latest report on the options being discussed and estimates about how much could be raised. SHIPPING The levy that could be closest to being...
Fuel and oils Between UGX 200 and UGX 1,450 per litre, depending on the type of fuel/oil. Nil for gas oil and thermal power generation to the national grid and aviation fuel imported by registered airlines or companies. Motor spirit (gasoline) UGX 1,550 per litre Gas oil (automotive, ...
"We have been lobbying for removal of VAT on mobile phones in Uganda for the last two years," she says. "A lot of handsets are being imported from neighbouring countries like Kenya and Rwanda, where there is no duty or VAT on mobile phones, through back channels where importers evade ...
Against this backdrop, the Kenyan government continues to levy punitive taxes on the hard working over taxed working class citizens of Kenya, who trustingly voted for leaders who promised them miracles only to renege on their promises to deliver a better Kenya. ...
The analysts are also concerned about the rising cost of credit following the increase in the benchmark interest rate by the Central Bank of Kenya to battle inflation as likely to weigh on private sector investment.“Downside risks [to the growth outlook] include renewed drought, a worsening...
Uncertainty has the effect of undermining confidence and creating major risks for Kenya’s recovering economy. The legal battle over the newly signed finance law that doubled fuel tax and introduced new taxes is now one of the main sources of uncertainty. ...
“He is raiding the sin taxes, but in Kenya, there is nothing like sin tax anymore because items like bottled water are bordering on basic food items, given that there is no clean water being piped to homes for people to drink.” ...