Kenya President Announces Tax Relief Measures Due to Coronavirus

The Kenyan President’s Office March 25 announced tax relief measures due to the coronavirus pandemic. The announcement includes measures to: 1) provide 100 percent tax relief for individuals earning gross monthly income up to 24,000 Kenyan shillings (US$230); 2) reduce the pay-as-you-earn (PAYE) and resident corporate income tax rates to 25 percent from 30 percent; 3) reduce the income tax rate to 1 percent from 3 percent for SMEs; 4) reduce the VAT rate to 14 percent from 16 percent, effective April 1; and 5) accelerate payments for VAT refund claims up to 10 billion Kenyan shillings (US$96 million) or ...