Search results
Results from the WOW.Com Content Network
The Income Tax Act is the most important tax used in Kenya. It is up to the employer to make sure that the taxes are deducted at source, that employees pay taxes and that they have a personal identification number (PIN) with the KRA. There is a fine of $22 for every payment made to an employee who does not have a PIN.
The Kenya Finance Bill 2024 was a piece of legislation that proposed changes to the tax system of Kenya, [ 1] which involves tax increases. [ 2] The proposed bill aims to raise 346 billion Kenyan shillings (KSh) to pay off debt and fund development projects. [ 2][ 3] It was first introduced in May 2024 and has been controversial, [ 4] with some ...
The Kenya Finance Bill protests, widely known by hashtag #RejectFinanceBill2024, or Gen Z protests, were a series of decentralized mass protests in Kenya against tax increases proposed by the Government of Kenya in the Finance Bill 2024. [11] Following the storming of the Kenyan Parliament, president William Ruto reportedly rejected the Bill on ...
June 26, 2024 at 5:51 AM. (Reuters) - Kenya's President William Ruto on Wednesday declined to sign a highly contentious finance bill that has sparked nationwide deadly protests, and has sent it ...
NAIROBI (Reuters) -Kenya's government plans to cut 2024-25 spending by 1.9% and widen the fiscal deficit to 3.6% of GDP in a revised budget, the treasury said, weeks after it was forced to roll ...
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 economy of Kenya is market-based with a few state enterprises. Kenya has an emerging market and is an averagely industrialised nation ahead of its East African peers. Currently a lower middle income nation, Kenya plans to be a newly industrialised nation by 2030. The major industries driving the Kenyan economy include financial services ...
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 ...