10/12/2023
The taxman says it had been receiving large amounts of data from its partners to analyse and unearth tax evasion but has been overwhelmed, leading to delays in processing the data, which results in revenue loss.
10/11/2023
The official revealed that the lobby has unsuccessfully engaged the Kenya Revenue Authority (KRA) on the issue, as well as about effecting tax cuts for the industry.
10/11/2023
Despite the increased risk outlook, major banks maintained resilient balance sheets with capital and liquidity well above regulatory requirements.
10/10/2023
These circumstances must be entirely out of their control and are generally incredibly rare.
10/05/2023
That eroded consumer purchasing power further, with nearly a third of surveyed firms reporting lower sales compared with August that pushed them to reduce production.
09/27/2023
Currently, only retirees above 65 years access their pension without paying taxes.
09/26/2023
The ratio of gross non-performing loans remained elevated at 14.5 percent at the end of June having eased slightly from 14.9 percent.
09/22/2023
The new Finance Act also categorised medium size organisations
09/14/2023
Currently, salaried workers enjoy two types of tax reliefs on PAYE, including a Sh2,400 monthly personal relief for all resident individuals which is meant to lighten the tax burden on the taxpayer.
09/13/2023
There is a huge opportunity to generate revenue by leveraging technology and tax intelligence to close the tax gap
09/13/2023
The Finance Act, 2023 has provided for tax amnesty and this is a limited-time offer that allows for the waiver of fees, interest, and penalties on tax debt that was outstanding prior to December 2022.
09/13/2023
The recommendations will place Ramaphosa in a tough position ahead of elections next year when members of his ruling African National Congress will likely pressure him to maintain massive social-spending programs.
09/13/2023
The Kenya Revenue Authority is as a result collecting about two-thirds of the potential revenue from corporate income tax, the Treasury chief says citing a study done in 2020.
09/11/2023
South Africa has effectively hit its budget limit, with revenues not meeting the February budget expectations, while government spending has continued to balloon far beyond what was planned.
09/04/2023
Returning to Q2 ‘23, domestic (non-import) VAT was the largest source of VAT revenue during the quarter
08/31/2023
The Finance Act defines digital assets as anything of value that is not tangible, which means the tax will cover a vast array of assets, including non-fungible tokens (NFTs).
08/21/2023
The provisional data show the Kenya Revenue Authority (KRA) increased the collections by 5.23 percent, or Sh27.34 billion, in the review period to Sh550.04 billion.
08/16/2023
The allowances had been left out in the initial draft Finance Bill, which provided for a housing fund.
08/09/2023
The research showed disposable razors for women, for example, cost R84.99, while the male version was priced at R42.95.
08/04/2023
Interest expenses on deposits are the main driver of withholding tax in the banking sector.