Daily Tax Report: International

Kenya Announces Widespread Tax Cuts to Ease Virus Impact

March 25, 2020, 4:27 PM

President Uhuru Kenyatta in a speech on national TV announced a series of measures to ease the impact of the coronavirus and free up cash to manage the outbreak, including a VAT reduction and tax relief for businesses and individuals.

  • National Treasury is preparing immediate tax relief for individuals and businesses including:
    • Reduction of maximum income tax rate or Pay As You Earn tax to 25% from 30%
    • Reduction of corporation tax to 25% from 30%
    • Sales tax rate to be cut to 1% from 3% currently for micro, small and medium businesses
    • Value Added Tax to be cut to...

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