Ukraine allies pledge to take Russian oil and gas off global market

Over 20 nations supporting Ukraine have pledged to remove Russian oil and gas from the global market to pressure President Vladimir Putin to end the war. This decision was made during a summit in London hosted by UK Prime Minister Sir Keir Starmer.

Lenders pay Sh38.5 in tax for every Sh100 profit

Kenyan lenders paid 38.5% of their profits in taxes in 2024, a decrease from the previous year, according to new industry data. This significant contribution highlights the banking sector's crucial role in national revenue.

Banks remit Sh194.8bn in taxes to Treasury

Kenyan banks remitted a substantial Sh194.81 billion in taxes to the National Treasury in 2024, highlighting their significant economic contribution. This amount represented 8.09 percent of the total government tax receipts.

KRA Announces New Requirements for Tax Compliance

The Kenya Revenue Authority (KRA) has announced stricter requirements for obtaining a Tax Compliance Certificate (TCC), linking its approval to compliance with the electronic Tax Invoice Management System (eTIMS) and more stringent tax filing conditions.

There's no bill that taxes freehold land, says National Assembly Majority Leader Kimani Ichung'wah