Sacco Review | The Leading Newspaper for Co-operative Movement in Kenya
The Leading Newspaper for Co-operative Movement in Kenya
Kenya Union of Savings & Credit Co-operatives (KUSCCO) has submitted policy proposals to the National Treasury aimed at strengthening SACCOs and protecting member welfare. Among the proposals is the amendment of Section 19A of the Income Tax Act (ITA) to provide a uniform tax treatment for all types of cooperatives societies, recognizing their shared goals…
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…
The controversial Affordable Housing Bill, 2023 has been amended to solicit the 1.5% Housing Levy contributions from individuals in the informal sector. This is after a three-judge bench declared the levy unconstitutional last week due to its discriminatory nature and unequal principles as it only targeted salaried Kenyans and expanded the tax to include incomes…
The Kenya Electricity Generating Company (KenGen) has reported a 48% growth in profit after tax for the Financial Year (FY) ended June 30, 2023, surging to Ksh5.02 billion up from Ksh3.4 billion in the previous FY. It also reported a 14% growth in revenue from Ksh47.48 billion in 2022 to Ksh53.96 billion largely spurred by…
Githunguri Dairy and Community (GDC) Sacco has decried the double taxation that they are subjected to by the government, calling on policy makers to review the relevant laws that have seen them paying duplicated duty on loans advanced to members. According to Sacco chairman Joseph Gitau, they are taxed on members’ income and the same…
By Our Reporter The agriculture sector is at risk of lowered productivity if the Government does not revert to zero-rated pesticides, according to Evelyn Lusenaka, Chief Executive Officer of the Agrochemical Association of Kenya (AAK). The organization has opposed the introduction of 16% VAT on pesticides saying the new tax will raise operations costs for…
