NOW WE PAY MORE FOR BASIC COMMODITIES? In the past the KRA has been issuing rulings and technical circulars through the media with no backing of the Law. The Bill now requires the KRA to make public and private rulings by publishing them in at least two daily newspapers of national circulation. The Bill proposes two rates of tax •0% for zero-rated supplies; and •16% for any other supply. Some zero-rated goods which will become taxable at 16% • Milk and cream (except unprocessed milk which will be except); • Maize and wheat flour; • Ordinary bread, gluten bread and unleavened bread; • Infant Formula; • Computer software; • Sanitary Towels and tampons; • Medical dressings and plasters; • Writing or drawing chalk; • Newspapers, journals and periodicals; • Exercise books and printed books; • Cinematographic cameras and projectors; Some exempt services which will become taxable at 16% • Postal services; • Management of unit trusts or collective investments • Entertainment performed by Kenyan artistes; • Hiring, leasing and chartering of aircrafts and helicopters including air ambulance aircrafts; • Tour operation and travel agency services; Some zero-rated goods which will become exempt • All electrical and mechanical appliances including generators. • Kerosene type jet fuel; • Mosquito nets; MEANWHILE TEACHERS STRIKE HITS DAY 13 as court orders KNUT and all teachers to call off the strike in 24hrs.
Posted on: Tue, 09 Jul 2013 07:52:30 +0000