Category: Business

TRUECALLER INTRODUCES NEW IDENTITY TO BOOST BUSINESSES

New identity introduced by Truecaller for businesses     By Mary Kibe     Truecaller has introduced a new identity solution for businesses to bolster safety and eliminate fraud. The enterprise solution dubbed Truecaller Business Identity allows businesses to verify their identities…

NCBA BANK THROUGH PARTNERSHIP TO OFFER AFFORDABLE MORTGAGE FINANCING

NCBA partner with Mi Vida to offer affordable mortgage financing.     By Douglas Muriithi   NCBA Bank partnered with fully capitalised developer, Mi Vida homes to provide mortgage finance for the purchase of apartment units at their Garden City project….

KENYAN TAX INVESTIGATIONS IS NOT APPEALABLE

Notice of tax investigations not appealable decision: Tribunal   By Samuel Migele   Tax Appeals Tribunal upheld the Kenya Revenue Authority’s position in a case filed by thr ee taxpayers challenging a move by KRA’s Commissioner for Investi gations and Enforcement to issue them with Notices of Tax Investigations.   In their appeal to the Tribunal, Mobile Galary Limited, Anand Kenya Trading Limited and Smart Phone Stores Limited had argued that Commissioner for Investigations and Enforcement’s Not ices of Tax Investigations issued upon them were unconstitutional and unlawful.   The Commissioner had conducted investigations into the tax affairs of three companies and preliminary findings indicated that Mobile Galary Limited owed taxes of up to Kshs. 781,573,257, Anand Trading Kenya Limite d owed KRA Kshs. 109, 686, 655, while Smart Phone Stores Limited o wed Kshs. 273,338,150.   In the Notices, the Commissioner had invited the three companies to resolve the issue within 14 days or risk prosecution fo r tax evasion. The three companies argued that the notices amounte d to a final decision owing to the looming criminal prosecution and t hat the demand for payment without an assessment being issued fir st was not only unreasonable but also unlawful.  …

AFRICAN WOMEN TO GET ENTREPRENEURSHIP SKILLS

African women entrepreneurs invited to apply for groundbreaking programme   By Irina Pungaru   Women in Africa (WIA) invites women entrepreneurs to apply for an intensive programme that will boost their businesse and confidence. The programme, WIA 54, is open…

KENYA REVENUE AUTHORITY RECORDED THE HIGHEST REVENUE COLLECTION

KRA SUSTAINS OUTSTANDING REVENUE PERFORMANCE TREND   By Donald Kogai   Kenya Revenue Authority (KRA) recorded the highest revenue performance rate since the beginning of the Financial Year 2020/2021 after collecting Kshs 144.6 billion in March 2021 surpassing the revenue target. This…

NAIROBI NATIONAL PARK ON A MISSION TO CLEAR PLASTIC WASTES

 3Es Exeperience waste free park campaign highlights Easter at Nairobi National Park   By Gor Ogutu   Visitors coming into Nairobi National Park during Easter weekend were issued with environmentally-friendly litter bags in a bid to mop up plastics at…

GLOBAL DELIVERY APP GLOVO GETS 58B

GLOBAL DELIVERY APP GLOVO GETS KSH 58 BILLION FUNDING IN A BID TO GROW ITS OPERATIONS.   By Mary Kibe   Glovo one of the World’s leading multi-category delivery players Raised (€450M) in its series of funding round led by…

FAMILY BANK GROUP REGISTERS 1.4B PROFIT

FAMILY BANK GROUP REGISTERS KES 1.4 BILLION PROFIT FOR FY’2020 RESULTS   By Beverlyn Naliaka   Family Bank posted an impressive KES 1.440 Billion Profit Before Tax for the group for the Full Year 2020 against KES 1.422 Billion in…

KENYA REVENUE AUTHORITY SEIZES FAKE STAMPS

KRA seizes over 25,000 fake excise stamps at Nairobi water plant   By Samuel Migele     Kenya Revenue Authority has seized over 25,000 pieces of loose cou nterfeit excise stamps and 5,000 bottles of sky- falls drinking water all affixed with counterfeit excise stamps at a w ater refilling plant in Industrial Area, Nairobi County. KRA officers were acting on an intelligence report when they carrie d out the operation and arrested the proprietor of Tabito Packaging & Suppliers. The factory premises were sealed and the plant closed. The proprietor is working with the Authority to unearth the source of the counterfeit excise stamps. This incident comes two months after KRA closed another water ma nufacturing plant at Ramula Trading Centre off Ramula- Luanda road where several fake excise stamps were found during a night raid in January. During the raid, KRA officers seized 49 cases o f bottled water affixed with counterfeit excise stamps and rolls of counterfeit excise stamps. The possession or use of fake excise stamps is illegal under the Excis e Duty Act, 2015 and the Excise Duty (Excisable Goods Management System) Regulations, 2017. KRA reminds all licensed manufacturers, importers, distributors, retailers and general public that all excisable goods other than motor vehicle s are required to be affixed with excise stamps in compliance with the law. The Authority, in collaboration with other government agencies in t he Multi- Agency Team, has been carrying out intelligence operation s and crackdowns to stamp out illicit goods from the market. The fig ht against illicit trade seeks to protect the public from harmful good s, create fair market competition and to protect revenue.

KENYAN BANK JOINS UN GLOBAL COMPACT NETWORK

FAMILY BANK OFFICIALLY JOINS THE UNITED NATIONS GLOBAL COMPACT NETWORK   By Vera Shawiza   Family Bank officially joined the United Nations Global Compact network underscoring its commitment to undertaking sustainable and responsible business to advance inclusive development. Family becomes…

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