Kenyan Business Feed

The fastest world growing smartphone manufacturer realme has promised to sustain its growth in the Kenyan market with new product...

The Consumer Electronics Association has today kicked off its annual CES electronics conference. The conference will run for four days...

Octagon Africa and National Bank have  signed a service partnership with Costa Homes, a private developer aiming to enhance safety...

Model, Naomi Campbell, has agreed to be Magical Kenya International Tourism Ambassador. She will help promote the marketing of Kenya...

Taxpayers will now get full or partial relief of penalties and interest onundisclosed taxes for the last five years. This will be effected through the newly introduced Voluntary Tax Disclosure Programme which is aimed at providing relief to taxpayers during the challenging economic times brought about by Covid-19 pandemic.  The programme is also aimed at enhancing tax compliance through disclosure of unpaid taxes. The Voluntary Tax Disclosure Programme (VTDP) introduced vide the FinanceAct, 2020 commenced on 1st January 2021 and shall run for three years to 31st December 2023.  The programme seeks to grant relief on penalties and intereston any tax liability disclosed in respect to the period of 5 years running from 1st July 2015 to 30th June 2020. Taxpayers who take advantage of the programme will receive full or partialwaiver of the penalties and interest, depending on the time of payment of disclosed taxes. Persons who make full payment of disclosed taxes in 2021 will get 100% relief in penalties and interest while those who pay in 2022 and 2023 shall get relief at a rate of 50% and 25% respectively. Detailed guidelines on the VTDP can be accessed on (www.kra.go.ke) VTDP applies to all tax liabilities accrued/derived in the specified period including individual Income Tax, Corporate Tax, PAYE, Withholding Income Tax, Capital Gains Tax, Value Added Tax, Withholding VAT, Excise Duty, Monthly Rental Income Tax and Turnover Tax. In addition to the waiver of penalties and interest, a person granted relief under the programme shall not be prosecuted for the disclosed tax liabilities....

During the week, Treasury bills remained under-subscribed, with the overall subscription rate coming in at 65.7%, an increase from the...

The Kenya Pipeline Company (KPC) has lost bid to recover Sh17 million paid to a contractor 16 years ago for...

With the government pushing for decongestant in Nairobi, Swedish bus and heavy trucks manufacturer Scania has announced that it will...