Public service job advertisements are never complete without invoking the famous ‘Chapter Six’ requirements that every candidate must fulfill. A tax compliance certificate (TCC) is among these requirements that potential candidates are required to produce before they are considered for a job in any public entity.

The Kenya Revenue Authority (KRA) is the body constitutionally mandated to issue or revoke Tax Compliance Certificates. A tax compliance certificate is a measure of a taxpayer’s level of compliance with tax filing and payment obligations.

The stalled NSSF Act 2013 that introduced the changes had also sought to raise monthly contributions from employers to match each employee’s deductions, which have remained at Sh200 monthly.

NSSF managing trustee Anthony Omerikwa said Tuesday that the Treasury was now part of the talks with the Central Organisation of Trade Unions (Cotu) and the Federation of Kenya Employers (FKE). He said the discussions are set to be completed before end of the financial year in June.

High Court Judge Weldon Korir ruled in favour of KRA in a judgement delivered last Thursday in Nairobi.

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The petition was filed on 12th April, 2017 challenging Sections 57, 58(2), 59 and 99 of the Tax Procedures Act.

The said sections empower KRA to inspect taxpayers’ goods and records as well as direct the taxpayers to produce records and information on their tax liability for purposes of administering a tax law.

Date              Currency                             Rates
27/02/2020    SAUDI RIYAL                      26.926
27/02/2020    SA RAND                              6.6684
27/02/2020    KES / USHS                       36.5975
27/02/2020    EURO                                109.7471
27/02/2020    CHINESE YUAN                 14.3914
27/02/2020    AUSTRALIAN $                   66.334
27/02/2020    US DOLLAR                      101.0265
27/02/2020    SW KRONER                     10.3634

University staff will today (Thursday) be back in court to push for implementation of a Sh8.8 billion pay hike which has been delayed due to a row with the Salaries and Remuneration Commission (SRC) since November last year.

SRC is expected to explain to the Labour Court how it arrived at the Sh8.8 billion award, even after the 30,000 university staff had put the figure at Sh13.8 billion. READ MORE...

Kenya is among countries in Sub Sahara Africa that are prone to a financial meltdown, according to a report by Moody’s.

According to the rating agency, Kenya is on the list of vulnerable countries that have either unfavorable debt structures with thin external buffers, narrow domestic debt market and/or a weak debt management capacity. READ MORE..

The High Court earlier this month ruled that KRA could collect withholding tax from shipping lines on container demurrage charges – which are additional fees levied on cargo importers for continued use of ships due to delay in offloading goods after arrival at port.

Judge of Milimani Court’s Commercial and Admiralty Division Francis Tuiyott ruled in favour of KRA in a consolidated tax appeal case filed by the shipping lines operating in Kenya protesting taxation of income on demurrage charges.

Date              Currency             Rates
25/02/2020    AUSTRALIAN $    66.825
25/02/2020    US DOLLAR    101.25
25/02/2020    CHINESE YUAN    14.3987
25/02/2020    STG POUND    130.7394
25/02/2020    KES / BIF    18.758
25/02/2020    SAUDI RIYAL    26.9928
25/02/2020    CHINESE YUAN    14.3987
25/02/2020    SINGAPORE DOLLAR    72.244
25/02/2020    KES / TSHS    22.8897
25/02/2020    NOR KRONER    10.808
25/02/2020    S FRANC    103.4747
25/02/2020    JPY (100)    91.1587

Date              Currency                           Rates
26/02/2020    HONGKONG DOLLAR    12.9945
26/02/2020    AUSTRALIAN $    66.7511
26/02/2020    IND RUPEE    1.412
26/02/2020    EURO    109.7829
26/02/2020    AE DIRHAM    27.5621
26/02/2020    STG POUND    131.3329
26/02/2020    US DOLLAR    101.23
26/02/2020    S FRANC    103.5283
26/02/2020    CAN $    76.1873
26/02/2020    DAN KRONER    14.6996
26/02/2020    KES / USHS    36.4446
26/02/2020    JPY (100)    91.5777

The institution charged with insuring customer deposits with commercial banks said Tuesday it had turned to the debt collectors in a new strategy to net defaulters conveniently instead of using lengthier legal avenues.

“We are looking for professional debt collectors,” KDIC chief executive Mohamud Ahmed told the Business Daily.