Income tax, value-added tax and sales levy cuts announced by President Uhuru Kenyatta last week are long-term, Treasury Secretary Ukur Yatani revealed Monday.
The tax incentives are not tied to the end of the coronavirus pandemic, meaning that Kenyan workers and companies will continue enjoying them even after the spread of the virus has been contained
Source : Business Daily
Small and medium sized enterprises (SMEs) with outstanding loans at Stanbic Bank Kenya
have been offered a three-month repayment break to cushion them against the economic disruptions caused by the coronavirus pandemic.
The offer is effective April 1, meaning that the SMEs will be required to resume repayments in July, offering reprieve to small entities at a time sales have dwindled.
Stanbic has also instructed large corporate customers to contact it for assessment and restructuring of their loans based on their respective industry circumstances.
The government’s efforts to curb spread of the deadly Covid-19 pandemic has received a major boost after Eldoret-based Rivatex East Africa Limited embarked on mass production of face masks.
The masks are expected to be supplied to the National Government for use in the battle against coronavirus.
