The proprietors and managers of small and medium-sized enterprises (SMEs) have been urged to keenly research and understand the types of taxes that affect their businesses for resilience and tax compliance.
The Chairman of the Kenya National Chamber of Commerce and Industry (KNCCI) Kericho branch Rev. Reubenson Malakwen Bett said SME managers should try to be conversant with at least the common taxes that their business enterprise attracts.
“Why are we calling on SME leaders to learn the various types of taxes aligned with their business? Such knowledge will allow you to operate with ease, knowing the adjustments that need to be made to comply with the needs of the Kenya Revenue Authority. It also avoids defaults and other issues in future, “he advised.
The Chair was addressing various SME leaders who were attending the Absa Bank Annual Business Club Forum held in Kericho Town. The theme of the forum was, “Building Resilience for Business Continuity in Times of Uncertainty,”.
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“We live in a time when the business environment is marked by volatility, complexity and rapid change. Our SMEs have faced numerous challenges from economic fluctuations and supply chain disruptions to increased competition and the evolving demands of the digital marketplace. These challenges have tested us, yet they have also shown us the importance of resilience, adaptability and innovation, “he told the training Workshop.
Rev Bett promised support from the KNNCI saying,” The KNCCI recognise that the journey to business resilience was not an easy one and needed support in all the stages.”
He said SMEs were the backbone of the local economy as they created jobs, drove innovation and contributed significantly to the economic well-being of the communities.
By Benedict Ngétich.
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