June 2022

About 41 percent of Kenyans targeted by the taxman have filed returns ahead of the June 30 deadline, data from the Kenya Revenue Authority (KRA) says. Latest KRA shows that more than 2.87 million taxpayers had filed returns by June 7 against a target of 7.1 million taxpayers. This is less compared with 3.07million people […]

President Uhuru Kenyatta is expected to sign the Finance Bill 2022 after lawmakers approved tax measures aimed at raising the Sh3.3 trillion budget. The Treasury, through the Finance Bill, seeks to generate at least Sh51.6 billion in revenue to finance the budget for the financial year starting July 1. The National Assembly went on an

Kenya has cancelled the issuance of a Sh115 billion ($1 billion) Eurobond and will instead borrow from a syndicate of banks after the Treasury received bids priced at 12 percent. Treasury Cabinet Secretary Ukur Yatani said Eurobonds had become expensive in the wake of Russia’s invasion of Ukraine forcing Kenya to reconsider issuing a bond.

Kenya and Uganda are staring at another round of trade wars after Nairobi reintroduced a levy on eggs imported from the neighbouring country. Uganda says Kenya is now taxing its eggs at a rate of Sh72 a tray, bringing back a levy that had been suspended last December following bilateral talks between Kampala and Nairobi.

The Judicial Service Commission (JSC) has picked a 10-member team for the Tax Appeals Tribunal, two months after the Treasury Cabinet secretary lost the mandate of making the appointments. The JSC received the powers to appoint members of the tribunal following the amendment to the Tax Appeals Tribunal Act, which came into force in March

Bank lending rates hit a 27-month high in April as costs of wholesale deposits increased following competition for funds between lenders and the government, setting up costly credit for homes and businesses in a recovering economy. The average lending rate rose to 12.2 percent in April — the highest level since January 2020, Central Bank