NATIONAL TREASURY - Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya

Supreme Court overturns an Appellate Court verdict that declared the Finance Act 2023 unconstitutional

Sacco ReviewOctober 31, 202404 mins

The Supreme Court overturned an Appellate Court verdict that had declared the Finance Act 2023 Unconstitutional. This followed the successful appeal filed at the Supreme Court by the Cabinet Secretary for National Treasury, the Attorney General and the National Assembly and the Kenya Revenue Authority, challenging the July 31st 2024 Court of Appeal’s judgment declaring…

Team formed to address debt write-off for coffee farmers

Sacco ReviewJune 18, 202406 mins

Cabinet Secretary for Cooperatives and Micro, Small and Medium Enterprises Development Simon Chelugui has said the government will form a multi-agency validation team to analyze the submitted debt waiver claims from cooperative societies and prepare a report to the National Treasury for release of funds. The CS who was speaking during a consultative meeting with…

Passaris urges Treasury to increase tax to bar banks, Saccos from lending to government

Sacco ReviewMay 17, 202403 mins

Nairobi Woman Representative Esther Passaris has urged the National Treasury to push the 5 per cent withholding tax on the interest income earned from the infrastructure bonds to 20 per cent. She revealed this in a statement on Thursday, May 16, 2024 seen by Sacco Review where she noted that the current proposed tax will…

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…

SASRA mulls direct deduction of Sacco dues from exchequer

Sacco ReviewSeptember 29, 2023September 29, 202305 mins

Sacco Societies Regulatory Authority (SASRA) has plans to create a framework that will see the National Treasury (NT) deducting funds directly from exchequer-funded entities to Saccos. SASRA Chairperson Jack Ranguma said county governments and their legislative assemblies, as well as public universities and tertiary colleges, have continued to top the list of defaulters of Sacco…