Finance Bill - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Will Ministry of Cooperatives be merged with another ministry in the upcoming changes?

Sacco ReviewJuly 11, 2024July 11, 202402 mins

Cooperative sector stakeholders are now waiting to see if the President Willaim Ruto will keep the Ministry of Co-operatives and Micro, Small and Medium Enterprises Development as standalone ministry or it will be absorbed by other ministries. This is after President dismissing all members of his Cabinet including Attorney General. Ruto announced that only Prime…

Government should stop the aggressive taxation drive

Sacco ReviewJune 25, 202408 mins

The latest Finance Bill has generated considerable debate and concern among ordinary Kenyans. The bill proposes several measures to correct the budget deficit, but one of the most controversial aspects is the dependence on high taxation. Despite its apparent simplicity, this method frequently results in damaging outcomes for both our financial standing and daily activities….

President Ruto to attend 9th Meru Dairy Farmers Field Day today

Sacco ReviewJune 13, 2024June 13, 202405 mins

President William Ruto is set to preside over the 9th annual Meru Dairy Farmers Field Day which will be held at Gitoro ASK showground today. This will mark the second time the Head of State will preside over the event for two years consecutively. He will join over 50, 000 dairy farmers in marking this…

Bread, M-Pesa hit in new KSh323 billion government tax plan

Sacco ReviewMay 13, 202402 mins

The National Treasury plans to introduce VAT on bread and increase excise taxes on M-Pesa, bank transfers and airtime as it seeks to collect an additional KSh323 billion in taxes in the next financial year. According to newly published Finance Bill Kenyans will pay 16 per cent value added tax (VAT) on bread at least…

KUSCCO presents memoranda on tax matters affecting SACCOS

Sacco ReviewJune 1, 2023June 1, 202309 mins

Kenya Union of Savings & Credit Co-operatives Ltd (KUSCCO) has presented their memoranda on tax matters affecting Saccos in Kenya where they have said that there will be implications under the current tax law provisions. Saccos with corporate members would lose the tax benefit of exemption. Interest income from members and 50% for the interest…