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The Kenyan taxation system covers income tax, value-added tax, customs and excise duty.The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with the above taxes while also having the authority to undertake reviews on various companies and corporations.
The Kenya Revenue Authority (KRA) [2] was established by an Act of Parliament, the Kenya Revenue Authority Act, which became effective on 1 July 1995. The Authority is charged with collecting revenue on behalf of the Government of Kenya. [1] The Authority's core operations are:-
The bulk of mandatory spending is for entitlement programs, which are social welfare programs with specific requirements. Congress sets eligibility requirements and benefits for entitlement programs. If the eligibility requirements are met for a specific mandatory program, outlays are made automatically. [3]
The National Social Security Fund was established in 1965 through the Act of Parliament Cap 258 of the Laws of Kenya. It initially operated as a Department of the Ministry of Labour until 1987 when the act was amended, transforming the fund into a state corporation under the management of a board of trustees. [2]
Prior to enactment of the Retirement Benefits Act, the retirement benefits sector in Kenya was regulated by fragmented legislation, mostly Trust and Income Tax Laws. Without a specific body or regulations to set industry standards, pension schemes adopted different styles of operation, leading to serious challenges in proper administration of ...
By 2010 there were more than twenty large micro finance institutions in Kenya, which provided US $1.5 billion to approximately 1.5 million active borrowers. With over 100,000 clients, Equity Bank Kenya had the largest share of business loans representing market share of 73.50% followed by Kenya Women Microfinance Bank with 12.06%.
The Norwegian welfare state is based on the principles of social democracy, which means that it has a strong focus on reducing income inequality and promoting social cohesion. The Norwegian welfare state provides a range of services, including universal healthcare, free education, and a comprehensive system of social security.
The Social Health Authority (SHA) is a State Corporation of the Government of Kenya that is responsible for the provision and management of public health insurance within the Republic of Kenya. [1] The core business and mandate of the SHA is to provide accessible, affordable, sustainable and quality health insurance for all Kenyan citizens, and ...