9 of 1989, Act No. The withholding VAT rate has been reduced from 6% to 2% effective 7th November 2019. 0000050709 00000 n %%EOF The Finance Act however does provide that despite the repealing of Section 33B, any agreement or arrangement to borrow or lend which had been made or entered into based on the provisions of Section 33B (now repealed) shall continue to be in force on such terms including interest rates and for the duration specified therein. Through our involvement in a large number of audit and non-audit assignments, including strategic and regulatory initiatives that influence the future of the sector, we have developed an in-depth knowledge of the sector which we apply to all our client relationships. Office Address.

The provision that was not initially included in the Bill will now provide for regulations that ensure deposits from members are better managed. A fund manager or investment bank registered under the Capital Markets Act may hold home ownership savings plan deposits. 13 succumb to COVID in Kenya as 218 new cases recorded, MoH reports 141 COVID-19 cases, 5 fatalities raising death toll to 669, COVID-19 positivity rate recorded at 3.4pc as 130 cases reported, COVID-19 death toll rises to 659 as 9 more patients succumb, PPE-clad officials scaled down in reviewed COVID-19 burial protocols, Ignore conspiracy theories on Huduma Namba, Govt says of Susan Kihika claims, CoG to seek court’s counsel on Parliament dissolution: Oparanya, Green Party urges President Kenyatta to uphold CJ Maraga’s Parliament dissolution advice, NGOs want transparency in Sh1.9bn school desks project, Mali’s new interim leader stands by handover, international accords, Effective multilateralism key to overcoming global challenges, President Kenyatta says, US seeks breakthrough on Sudan before election, President Kenyatta commends progress made in South Sudan, Sudan peace processes, South Africa’s ANC to refund state for flight to Zimbabwe, US Supreme Court vacancy upends presidential race in key battlegrounds, Trump to name Supreme Court pick at end of week, Russia, China hackers targeting US vote, Microsoft warns, Biden picks Kamala Harris to be first black woman VP, Twitter hack raises security questions as US elections near, Kim Jong Un ‘very sorry’ over killing of South Korean, Seoul says, Israel restricts outgoing flights to bolster virus lockdown, Putin proposes election non-interference pact with US, Whale rescuers face grim task in Australia mass stranding, Thousands of mosques in Xinjiang demolished in recent years: report, Why Uhuru should ignore Maraga’s advise on dissolution of Parliament, Coastal region should spearhead Kenya’s blue economy agenda.

443/1992, Act No. Contact Tuko.co.ke instantly, Kenyans react to 2019 census report I Tuko TV I Voxpop, Business & Economy section is brought to you by, Leave your email to receive our newsletter, Get the news that matters from one of the leading news sites in Kenya, Drop your mail and be the first to get fresh news. Simultaneously, the Finance Act 2019 has reduced Import Declaration Fee (IDF) from 2% to 1.5% of the customs value of the import for the following goods: RDL rate for finished goods has been increased from 1.5% to 2% of the customs value of the import effective 7th November 2019. IDF rate for finished goods has been increased from 2% to 3.5% of the customs value of the import effective 7th November 2019. The date for inflation adjustment has been moved from 1st July to 1st October. 0 Standard Chartered Bank Kenya Limited, commonly known as Standard Chartered Kenya, is a commercial bank that offers banking products and services such as transaction accounts, loans, savings, debit cards, and investments. The Housing Act established the National Housing Cooperation (“NHC”) and managed the Housing Fund. The brand and trademark RSM and other intellectual property rights used by members of the network are owned by RSM International Association, an association governed by article 60 et seq of the Civil Code of Switzerland whose seat is in Zug. Intermediate products and raw materials used by approved manufacturers; Intermediate products and raw materials imported by manufacturers approved by the Cabinet Secretary for National Treasury upon recommendation by the Cabinet Secretary responsible for matters relating to industry; and. %PDF-1.3 %���� 44 of 1959 unconstitutional. Strengthen women’s participation in manufacturing for economic resilience, President Uhuru Kenyatta Thursday morning at State House, Nairobi signed into law the Finance Bill 2019. 0000013107 00000 n The new provision would mean that prior to the Finance Act, the Commissioner could not recover the tax from the payer for the services. 0000099992 00000 n 0000104485 00000 n The amendment was made to the Banking Act, Chapter 488 of the Laws of Kenya. Registration and renewal of membership by professional bodies and other licensing agencies, Registration of mobile cellular paybill and till numbers by telecommunication operators. 0000040998 00000 n Credit Information Sharing.
The Finance Act 2019, among other provision, repeals section 33b of the Banking Act that provides for the capping of bank interest rates/PSCU. Photo: State House.Source: Facebook, READ ALSO: Ex-Kisumu East MP Gor Sungu offers reward to anyone who will find son's KSh 18k bicycle.

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