Connect with us

Hi, what are you looking for?

top
The entrance to Kenya's Parliament/FILE

Kenya

MPs to hold Special Sitting over planned reversal of key tax rates

NAIROBI, Kenya, Dec 17- The National Assembly will hold a special session on Tuesday next week to deliberate on the planned reversal of key tax rates.

Speaker Justin Muturi said the session will enable legislators debate on the proposed reversal of Pay As You Earn (PAYE), corporate tax and Value Added Tax (VAT).

The tax exemptions had been issued by President Uhuru Kenyatta to cushion Kenyans against the economic meltdown occasioned by COVID-19 pandemic.

Starting next year, the individual and corporate tax rates will return to 30 percent from the current 25 percent.

The old rates will start effective January 2021.

According to Treasury Cabinet Secretary Ukur Yattani, the government will continue cushioning low-income earners by retaining the 100 per cent tax exemption relief for those earning a monthly income of Sh24,000 and below.

The stimulus package was announced in March when the first case of COVID-19 was confirmed in the country.

Advertisement. Scroll to continue reading.
Comments
Advertisement

More on Capital News

August Elections

NAIROBI, Kenya, May 16 – Amani National Congress Leader Musalia Mudavadi has poured cold water on the Azimio Presidential candidate Raila Odinga’s choice of...

World

Stockholm (AFP), May 16 – Lawmakers in Finland and Sweden on Monday debated their respective NATO bids, as the two neighbours prepare to submit...

World

Jerusalem (AFP), May 16 – The Catholic archbishop in Jerusalem on Monday strongly criticised Israel’s “police invasion” last week of a Christian hospital ahead...

August Elections

NAIROBI, Kenya, May 16 – NARC Kenya leader Martha Karua says she is ready, able and willing to deliver as Azimio Presidential candidate Raila...

AUGUST 9 COUNTDOWN

In a bid to to beat the Independent Electoral and Boundaries Commission’s (IEBC) deadline for submitting running mates, Kalonzo unveiled Andrew Sunkuli as his...

AUGUST 9 COUNTDOWN

NAIROBI, Kenya May 16 – Azimio la Umoja One Kenya Alliance presidential candidate Raila Odinga has picked Narc-Kenya leader Martha Karua as his running mate....

August Elections

NAIROBI, Kenya, May 16 – As the clocked ticked for Azimio- One Kenya Alliance presidential flag bearer Raila Odinga to name his running mate...

Kenya

Nairobi, Kenya, May 16 – Justina Wamae has presented her papers to the Independent Electoral and Boundaries Commission (IEBC) as running mate to Roots...