New PAYE and VAT Rates in response to COVID-19

PAYE and VAT

TweetShareSharePin0 SharesTaxes play a fundamental role in Kenya’s sovereignty. We significantly fund our national budget though Taxes. To mitigate the effects of COVID – 19 to the Kenyan economy, the Government has proposed various measures including the following: Reduction of Personal Income Tax top rate (PAYE) from 30% to 25% 100 % Tax Relief for persons earning up to Ksh. 24,000 Reduction of Resident Corporate Income Tax rate from 30% to 25% Reduction of Turnover Tax rate for SMEs from 3% to 1% Immediate reduction of the VAT rate from 16%…

... Read Full Article