Category: Business

KENSWITCH APPOINTS MANAGING DIRECTOR TO DRIVE ITS NEW MARKET DIRECTION

KENSWITCH APPOINTS MANAGING DIRECTOR TO DRIVE ITS NEW MARKET DIRECTION         By Vera Shawiza         The Board of Kenswitch Kenya Limited has appointed Ms. Karimi Ithau as Managing Director as the company rolls out…

FAMILY BANK BOND RECEIVES A SUBSCRIPTION OF 147.3% TO RAISE 4.42 BILLION

FAMILY BANK BOND RECEIVES A SUBSCRIPTION OF 147.3% TO RAISE KES 4.42 BILLION       By Beverlyn Naliaka       Family Bank bond has raised KES 4.42 billion, marking a subscription of 147.3%, against a KES 3 billion…

TRIBUNAL AFFIRMS DEMAND OF 14M IN IMPORT DECLARATION FEES AGAINST AIR KENYA EXPRESS LIMITED

TRIBUNAL AFFIRMS DEMAND OF 14M     By Samuel Migele       Tax Appeals Tribunal has upheld the decision by the Kenya Revenu e Authority (KRA) to demand Import Declaration Fees (IDF) amount ing to Kshs. 14,330,770 from Air Kenya Express Ltd.     The company, which was the Appellant in the case, had argued that its goods were exempted from payment of IDF, and  that  the  Authority had used the wrong percentage of 2.5% instead of 2.0% while calculating the fees assessed, leading to an overcharge.       The Tribunal however noted that although the company’s goods (air craft and aircraft spares) were exempt from having to submit IDF, t hey were not exempt from payment of IDF as the regulations did no t in any express manner exempt the goods.       On the issue of the alleged wrong computation, the Tribunal noted t hat the company did not provide any proof of payment as required by Section 30 of the Tax Appeals Tribunal Act 2013 and the allegation was therefore not tenable.    …

KENYA REVENUE AUTHORITY TO COLLECT 280M FROM TAX PAYER

KENYA REVENUE AUTHORITY TO COLLECT 280M FROM TAX PAYER.        By Samuel Migele       Convex commodity Merchants Ltd (the taxpayer) has lost a three year court battle to stop Kenya Revenue Authority (KRA) from recovering Kshs. 280,586,727.94 in tax…

DR. FRED MATIANGI’S SECURITY OFFICE TOPS IN THE COUNTRY TAX COMPLIANT

Kenya Revenue Authority recognizes Ministry of Interior for being tax compliant   By Donald Kogai       Kenya Revenue Authority (KRA) Commissioner-General Mr Githii Mburu handed over a taxpayer’s award to the Ministry of Interior & Coordination of National Government that…

ETHIOPIA COMMUNICATIONS AUTHORITY ISSUES A TELECOMMUNICATIONS OPERATOR LICENSE

ETHIOPIA COMMUNICATIONS AUTHORITY ISSUES A TELECOMMUNICATIONS OPERATOR LICENSE     By Wangechi Wahome       The Ethiopian Communications Authority (ECA) has issued a Telecommunications Operator License for a new Telecommunications Service Licensee.         Pursuant to Articles 40…

PORT OF LAMU FUTURE LOOKS BRIGHT AS IT RECEIVES TRANSHIPMENT CONSIGNMENT FROM ZANZIBAR TO DUBAI

Port of Lamu future looks bright as it receives a transhipment consignment of 103TEUS from Zanzibar enroute to Dubai       By Donald Kogai       The Port of Lamu  received a transhipment consignment of 62 containers from…

GLOVO EXPANDS REACH TO KIAMBU COUNTY KENYA

 GLOVO EXPANDS REACH TO THIKA AND KIAMBU TOWNS.       Glovo already has partnerships with outlets such as Pizza Inn, Chicken Inn, KFC, Creamy Inn, and Naivas supermarkets some of which operate in Thika and Kiambu. Glovo to onboard…

KENYA COMMERCIAL BANK CLIENTS TO SEND AND RECEIVE GLOBAL MONEY TRANSFERS

Kenya Commercial Bank customers to send and receive money through Global money transfers.       By Ednah Kiarie         KCB Bank Kenya in partnership with Western Union, a leader in cross-border, cross-currency money movement and payments…

KEMSA HOSTS PRE-BID CONFERENCE AS TWO YEAR FRAMEWORK TENDERS ARE FLOATED

KEMSA hosts pre-bid conference as two-year framework tenders are floated         …Acting CEO Njoroge implores local manufacturers and disadvantaged groups to participate, assures bidding process will be undertaken with strict adherence to local and international procurement standards…

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