• Home
  • Business News
  • Weekly Reviews
  • Market Reports
Saturday, August 30, 2025
  • Login
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports
  • Global Markets
  • Commodities
  • Corporate News
No Result
View All Result
The Trading Room
No Result
View All Result
Home Business News

Kenya’s Tax Relief Measures Retained Until January 2021

Trading Room Reporter by Trading Room Reporter
in Business News
Reading Time: 2 mins read
A A
0
Uhuru Kenyatta
Share on FacebookShare on Twitter

Kenyans will continue enjoying tax cuts contained in a stimulus package announced in April by the government to address the impact of coronavirus on the economy.

RELATED POSTS

Treasury Seeks Loan To Repay Its Debt Of 51.6B In September

CBK Powers up New Risk-Based Credit Pricing Model

Kenya Has Increased investment In Foreign Countries By 37%.

In his state address to the nation on Monday, President Uhuru Kenyatta announced the retainment of a number of measures to support small businesses and innovators.

100 pc tax relief for employees earning up to Ksh24,000 per month has been retained until December 31st while those earning above the new threshold will benefit from a PAYE tax reduction of 5pc.

“To continue cushioning low-income earners the National Treasury maintains the 100 per cent tax relief for persons earning a gross monthly income of up to Ksh 24,000 beyond the Sunset date of 31st December 2020.  I direct that the National Treasury considers retaining the Income Tax Rate (Pay-As-You-Earn) at 25 per cent until 1st January 2021” he said.

Others measures include retaining VAT at 14% until 1st January 2021, Resident Income Tax (Corporation Tax) at 25% and reduction of the turnover tax rate from 3 per cent to 1 per cent for all Micro, Small and Medium-sized Enterprises (MSMEs).

The National Treasury has also been directed to expedite the roll-out of the credit guarantee scheme for MSMEs in partnership with participating banks and development partners.

The credit guarantee scheme as approved by Cabinet is a risk-sharing partnership between the Government and banks, which will afford enterprises access to credit by an additional 100 billion shillings.

Buy JNews
ADVERTISEMENT

The President at the same time hailed innovators who have emerged during the pandemic and promised to support them as part of the resilience-building strategy.

“Against all odds, some of our entrepreneurs have re-imagined the subsisting pandemic and created a new business reality that disorganizes the existing order at play. This is a new business model driven by innovators and makers of things; people who did not see the danger in the COVID crisis, but saw opportunity instead. Businesses that experienced shock from COVID, but bounced back better” he said.

Post Views: 1,156
Tags: Banks in KenyaCapital Markets Updates in KenyaUhuru Kenyatta
Previous Post

U.S Markets Close Higher as Energy, Financials Lead in Rally

Next Post

Market Report; 29 September, 2020

Trading Room Reporter

Trading Room Reporter

Related Posts

Treasury Cabinet Secretary John Mbadi among other treasury officials
Business News

Treasury Seeks Loan To Repay Its Debt Of 51.6B In September

by Winfred Wanja
Business News

CBK Powers up New Risk-Based Credit Pricing Model

by Ivan Lewa
An image showing Nairobi Kenya
Business News

Kenya Has Increased investment In Foreign Countries By 37%.

by Winfred Wanja
Sanlam Plc
Business News

Sanlam Reports 89% Drop in Profit After Tax.

by Ruth Nelima
Next Post
Market Report: 14 April, 2020.

Market Report; 29 September, 2020

S&P 500 Dow wall street

U.S Markets close Lower, Ending Three-day Rally Ahead of Presidential Debate

The old Kes.1,000 shilling note becomes useless tomorrow.

Central Bank Maintains Benchmark Rate at 7 Percent

Advertisement Banner Advertisement Banner Advertisement Banner
ADVERTISEMENT

Most Viewed Posts

  • Tea Farmers Set to Receive Kes 28 Billion as Final Bonus Payment (4,221)
  • 4 Things You Can Do With the Cashlet App to Achieve Your Financial Goals (2,326)
  • Hilda Njeru Takes over at CDSC (2,197)
  • Safaricom Finally Launches eSIM: Here’s What You Need to Know (2,133)
  • KenGen Gets Nod to Sell 4 Million Tonnes of Carbon Credits (1,920)

Follow Twitter

About Us

Follow Us

Popular Tag

Africa Asian - Pacific Stocks Asian Stock Markets Australian Stocks Bitcoin Bonds Kenya Bonds Trading in Kenya Brent Brent Crude Capital Markets Authority Central Bank of Kenya Corona Virus Pandemic Crude Oil Cryptocurrencies Derivatives NSE Derivatives Trading in Kenya Dow Jones Industrial Average Ethereum European Stock Markets Global Economy Global Markets Hang Seng Index Investing in Kenya Investor Briefing Jakarta Stock Exchange Kenya Economy Kospi index MSCI Index Nairobi Securities Exchange NASDAQ New York Stock Exchange Nikkei N225 NSE Oil Futures S&P 500 Index Safaricom Plc Shanghai Composite Shenzhen component spotlight Stock Market Report Stock Market Review U.S. Stock markets US oil Wall Street WTI Oil Index

Recent News

TotalEnergies Kenya HY Profit Soars 17%, Despite Stiff Competition

Jubilee Posts 21.7% Profit Growth, Holds Dividend Steady

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2025 The Trading Room Limited.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
TSLA 
$333.87  3.50%  
GME 
$22.41  1.67%  
MSFT 
$506.69  0.58%  
AAPL 
$232.14  0.18%  
AMC 
$2.81  0.71%  
ABNB 
$130.53  0.05%  
GOOGL 
$212.91  0.60%  
AMZN 
$229.00  1.12%  
No Result
View All Result
  • Home
  • Business News
  • Weekly Reviews
  • Market Reports

© 2025 The Trading Room Limited.

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?