Search results
Results From The WOW.Com Content Network
The Capital Markets Authority of Kenya (CMA) is a government financial regulatory entity responsible for supervising, licensing and monitoring the activities of the capital markets within the Republic of Kenya, market intermediaries, including the stock exchange, and the central depository and settlement system and all other persons licensed under the Capital Markets Act of Kenya.
The government eliminated price controls and import licensing, removed foreign exchange controls, privatised a number of publicly owned companies, reduced the number of civil servants, and introduced conservative fiscal and monetary policies. From 1994 to 1996, Kenya's real GDP growth rate averaged just over 4% a year. [45]
The Kenya Finance Bill 2024 was a piece of legislation that proposed changes to the tax system of Kenya, [1] which involves tax increases. [2] The proposed bill aims to raise 346 billion Kenyan shillings (KSh) to pay off debt and fund development projects.
[18] [25] The 2024 Finance Bill is the first in a series of tax reforms based on a Medium-Term Revenue Strategy (MTRS) devised and published by the Kenyan government in 2023 through the Ministry of National Treasury and Economic Planning. The MTRS aims to increase the tax-to-GDP ratio in Kenya from 13.5% to at least 20% from 2024 to 2027. [26]
The Kenyan taxation system covers income tax, value-added tax, customs and excise duty.The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with the above taxes while also having the authority to undertake reviews on various companies and corporations.
[25] The bodies of six females are found in a quarry near the Mukuru kwa Njenga slum of Nairobi. [25] The prime suspect is arrested and confesses to killing 42 women on 15 July. Another man is also arrested. [26] 16 July – Clashes break out nationwide between Kenya Police and antigovernment protestors calling for the removal of President Ruto ...
The Kenya Revenue Authority (KRA) [2] was established by an Act of Parliament, the Kenya Revenue Authority Act, which became effective on 1 July 1995. The Authority is charged with collecting revenue on behalf of the Government of Kenya. [1] The Authority's core operations are:-
About 75% of the tax revenue is to be distributed to those cantons where large companies were previously taxed at a lower rate, and the Confederation is entitled to the remaining 25%. On 22 December 2023, the Federal Council decided to apply the Global minimum tax from 1 January 2024