Home Business Economy

Economy

Equity Afia opens three new medical centers

Equity Afia has opened three new medical centers in Lodwar, Marsabit and at Mountain Mall along Thika Road bringing the franchise’s network to 44. Equity...

KCB partners with Kenya National Chamber of Commerce to accelerate credit flow to businesses 

KCB Bank Kenya and the Kenya National Chamber of Commerce and Industries (KNCCI) Mombasa Chapter have signed a strategic partnership to accelerate the provision...

KCB Group balance sheet hits Kshs. 1 trillion

KCB Group net profit in the first six months of the year to June 30, 2021 has surged 102% to hit Kshs. 15.3 billion...

Covid-19 accelerated the evolution of start-up ecosystem in Kenya

The level of unemployment rose sharply amongst young people aged 20 to 29 years. The Covid-19 pandemic accelerated the growth of start-up ecosystem in Kenya,...

A win to consolidation as NBK and renamed Kingdom bank record profits

The apex bank has been pushing for bank consolidation to ensure stability in the banking sector in Kenya. The fruits has seen consolidated banks...

TikTok and KTB join forces to bring wildebeest migration live

TikTok has announced partnership with the Kenya Tourism Board, the International Fund for Animal Welfare (IFAW), and Conservation International to bring live the Great...

Pesapal Meets Regulatory Requirements Across the borders

E-commerce and payment gateway Pesapal Limited has received accreditation as a Payment Service Provider in Kenya and an Application Service License for Tanzania.  The twin...

Nanyuki restaurant set to pay KShs. 22.9 million tax

A Nanyuki based restaurant is set to pay KShs.22.9 million tax to the Kenya Revenue Authority (KRA) after it lost a tax appeal at the Tax Appeals Tribunal. Le Restique Limited (the taxpayer) was contesting KRA’s demand for payment of KShs 22,908,175.49.  The taxpayer was disputing that KRA’s tax assessments were defective because KRA did not make an objection decision within the required timelines from the date the taxpayer lodged a notice of objection.  The taxpayer also argued that KRA had issued assessments based on arbitrary assumptions which were not in accordance with the provisions of the law. KRA in its defence argued that it was justified in arriving at the assessment on the basis of estimations based on information and documents outside the self- assessment and financial statements.  The main reason provided for relying on this method was that the Appellant had failed to provide sufficient documentation to support the actual amounts that were stated in the self- assessment. The Tribunal’s in judgement dismissed the Appeal and held that the taxpayer did not discharge the burden of proof that the tax decision by KRA was incorrect.  The Tribunal arrived at this decision after it failed to find any evidence of the taxpayer supplying the other documents or providing a response to KRA’s request for documents despite the taxpayer asserting that the documents had been filed with the Tribunal.  

Serengeti Breweries Limited unveils 2 billion to help bars fight against Covid-19

The fund will roll out over the next two years benefitting over 2,000 outlets. SBL initiative is part of a new Tshs 230 billion ($100...

KEPSA and Zydii launch free digital courses for MSMEs

The Kenya Private Sector Alliance (KEPSA), and Zydii Limited have announced a partnership to provide free digital training to Micro, Small and Medium Enterprises (MSMEs). The...

Majority of Kenyan MSMEs Operates Within ICT, Agricultural Sectors

ICT and Agriculture are the leading host sectors for Micro, Small and Medium-sized Enterprises (MSMEs) in Kenya, the 2021 MSMEs Survey Report shows. The report,...

KEPSA, CMA signs MoU to support market deepening and uptake of capital market products

CMA and KEPSA sign MoU to support market deepening and uptake of capital market products The Capital Markets Authority (CMA) has signed a Memorandum of...

Most Read

Willy Mutunga Vows To Fly With Miguna Back To Kenya

Willy Mutunga, Former Chief Justice of Kenya has promised to travel to Canada and accompany deported lawyer Miguna Miguna as he will be coming...

Extension of Digital Coverage in Africa Is A Lever Development

The digital economy is outperforming all other sectors in terms of speed of growth, the dynamics of innovation, and the scope of influence. The...

What is your best experience as an entrepreneur?

BY Ippei Kanehara Founder at Ippei.com (2017–present) For me the best experience as an entrepreneur has been when my customers come to me and tell me that I’ve literally...

Reports Say Facebook is Planning To Rebrand

Earlier this week Facebook announced that it would hire 10,000 people in Europe to work on creating the met averse. A rebranding could be part...
error: Content is protected !!