Browsing: Kenyans

Most Kenyans, 83 per cent, indicated a willingness to increase the amount of money they allocate to savings and investments, but the inability to save due to insufficient funds after fulfilling their obligations that require regular funding and the availability of quick digital loans.

Among their obligations which contribute to Kenyans’ financial strain is supporting their extended family which considerably bites into their savings. 84 per cent of people indicated that they regularly provide some income to their extended family, mostly in case of emergencies, because they feel a sense of obligation to send their extended families money and because their extended family members treat them better when they are sent money.

On their part, the extended family members mostly use the money to cater to recurring expenses like food & transport, school fees and medical expenses at 23 per cent, 19 per cent and 18 per cent respectively. Farm-related …

In the construction sector, the price of steel and cement has increased exponentially. And, things are not getting better.

The Kenya Transporters Association has instructed its members across the country to raise freight rates by at least 5 per cent in order to maintain their companies under the current circumstances. The notification issued on March 14 was to help the freighters avoid a total collapse of the sector.

In a petition to parliament, the Consumers Federation of Kenya called for the elimination or reduction of the current 16.5 per cent value-added tax on liquefied petroleum gas to 8.5 per cent.

Pressure from the International Monetary Fund (IMF) put the treasury under pressure to increase the VAT on all petroleum goods in 2018. The IMF said that the implementation of the VAT would ensure that the government is able to meet its financial obligations.…

Kenya revenue authorities formerly known as (KRA) has been one of the government agency programs in charge of collecting, accessing, and accounting for all taxes around the country, it started way back in 1995  by the national assembly. The Kenya revenue authorities headquarters is located at Times Tower, Haile Selassie Avenue in Kenya’s capital Nairobi.

In Kenya when one hears or comes across the name Kenya Revenue Authority (KRA), what automatically comes to mind immediately is tax. in other words KRA is mostly referred to as the taxman by Kenyans. it is also a facilitator of global trade.

Kenyans have always found themselves on the other side of the law most so students. Every individual and company in possession of a Personal Identification Number (PIN) should file their tax return at the end of the year with the collection agency which is the Kenya Revenue Authority.

Kenya operates a self-assessment …

National savings have not reached the levels sought to sustain the required investment for economic transformation…

The trial would allow the government to test the resilience of the system and the department has already had successful trials in controlled environments…