spot_img
Wednesday, November 6, 2024

Ruto’s Government Proposes Higher Digital Tax.

Exclusive
spot_img

Kenya’s government has proposed a 6% Significant Economic Presence Tax (SEPT) to broaden the tax base on digital services, including ride-hailing platforms, digital food delivery companies, and online freelance jobs.

The new 6% rate would apply to non-resident entities earning income through digital marketplaces in Kenya, ensuring foreign companies generating revenue through digital services are taxed equitably and aligning with international standards.

The SEPT aims to boost revenue collection from the expanding digital sector. The proposed legislation also includes a Minimum Top-Up Tax to address tax base erosion among multinational enterprises (MNEs), setting a minimum effective tax rate of 15% for companies with a consolidated annual turnover exceeding 100 billion shillings.

Companies paying less than this rate will be required to top up their tax contributions.

spot_img
- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -spot_img

Exclusive

Gachagua Seeks Raila’s Help Amid Impeachment Threat

0
Deputy President Rigathi Gachagua is facing a serious political crisis. He seeks assistance from former Prime Minister Raila Odinga. Gachagua wants to avoid impeachment....

Is John Mbadi the standout figure in Luo Nyanza’s political arena?

0
John Mbadi has emerged as a significant figure in Luo Nyanza's political landscape. This is particularly after his appointment as the ODM national chairman...

Politics return to the church as Ruto and Gachagua’s allies take the pulpit.

0
In recent events, the political landscape in Kenya has seen a notable intersection with religious institutions. This is particularly clear. Prominent political figures like...

What To Do To Impeach a Deputy President in Kenya.

0
Impeaching a Deputy President in Kenya is not an easy task. It can be done through two ways: impeachment or on grounds of incapacity....

Plot to Jail Gachagua: Kiambu Senator’s Claims.

0
Kiambu Senator alleges a plot to imprison Deputy President Gachagua, sparking political controversy and public debate. Kiambu Senator Karungo Thang'wa expressed concerns about a plot...
Latest News

The History About Sagging

It is all known that sagging is a common fashion that can be seen out there on daily basis...
- Advertisement -spot_img

More Articles Like This

- Advertisement -spot_img

THE IMPORTANCE