Kenya’s National Assembly approved a raft of tax measures, including a charge on all companies as the government seeks to boost revenue and navigates the coronavirus fallout.
Lawmakers approved the Finance Bill 2020 which includes a minimum tax of 1% on gross turnover. The measure could raise about 21 billion shillings ($197 million) yearly, said finance committee Chairman Joseph Limo. It will also ensure companies that perennially report losses also contribute to government programs, according to the committee.
Kenya is looking to raise money to fund its 2.8 trillion-shilling budget for the next fiscal year, and help boost an economy ...
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