Dec. 17 2019 -- Micro, small and medium enterprises (MSMEs) in Kenya may soon pay less tax after President Uhuru Kenyatta directed the Kenya Revenue Authority and the National Treasury to review the current regime.Speaking at Nyayo Stadium in Nairobi...
Dec. 17 2019 -- Micro, small and medium enterprises (MSMEs) in Kenya may soon pay less tax after President Uhuru Kenyatta directed the Kenya Revenue Authority and the National Treasury to review the current regime.
Speaking at Nyayo Stadium in Nairobi during Jamhuri Day celebrations on Thursday commemorating 56 years since Kenya became a republic, President Kenyatta said the government would take on “salient factors that are holding back the potential of our enterprises; particularly with regard to taxes and tax administration, reduction or where possible elimination of fees or charges levied by government agencies as well as the private sector.
“To address some of these challenges, I order and direct that the National Treasury and the Kenya Revenue Authority review our tax structures, especially in relation to small businesses, so as to reduce the tax burden while fostering tax-compliance,” he said.
He promised less bureaucracy and more simplification of processes in trade, access to credit and streamlining of consumer protection.
Original Source: https://www.theeastafrican.co.ke/business/Tax-relief-for-Kenyan-businesses/2560-5389108-jxi4v1/index.html
