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KRA demands Sh8.5 billion from SportPesa and Betin

Times Tower. FILE PHOTO | NMG  The Kenya Revenue Authority (KRA) is demanding Sh8.59 billion from Safaricom #ticker:SCOM as withholding tax arrears due from two major betting firms -- SportPesa and Betin Kenya -- in a fresh row pitting the State...

Vivo firms up market share as KenolKobil slips to third

A Shell Petrol Station in Nairobi. FILE PHOTO | NMG  Vivo Energy, the retailer of Shell-branded fuel products, has retained its position as the top oil marketer for the second year in a row.Data from the Petroleum Institute of East Africa...

Relief for KRA in Sh1.3bn tax demand from salt company

Kenya Revenue Authority head office at Times Towers in Nairobi. FILE PHOTO | NMG  The High Court has dismissed an application by a salt production company seeking to quash a Sh1.3 billion tax demand by the Kenya Revenue Authority (KRA).Krystalline Salt...

Everest Park gets occupation nod

Shelter Afrique headquarters in Nairobi. FILE PHOTO | NMG  Home owners at the Sh912 million Everest Park estate in Athi River whose houses were declared unfit for occupation in January last year due to structural weaknesses are now set to start...

Sameer writes off Sh403m investment in subsidiaries

Sameer Business Park on Mombasa Road in Nairobi. Sameer has faced increased competition from established and new tyre brands besides counterfeits. FILE PHOTO | NMG  Tyre distributor Sameer Africa #ticker:FIRE has written off Sh403.6 million of its investment in its regional...

Kemsa to get title deeds ‘by end of this month’

Kemsa is in the process of acquiring title deeds for its land parcels in Kakamega, Kisumu, and Eldoret.

Parents sue to have home schooling recognised

The petitioners say that they are some of the many parents in Kenya who have chosen to provide home education to their children. FILE PHOTO | NMG  Two parents have moved to court seeking to have home schooling recognised as a...

Alcohol producers oppose 15pc duty increase

Treasury CS Henry Rotich said the higher excise was necessary in order to address the fall in excise revenue. FILE PHOTO | NMG  Alcoholic beverage makers have opposed the 15 percent increase in excise duty on wines and spirits in this...

Motorists to pay more at pump as fuel prices go up

Energy and Petroleum Regulatory Authority (EPRA) Friday increased the price of a litre of super petrol by Sh3.07 and that of diesel by Sh0.39. FILE PHOTO | NMG  Motorists will pay more for petrol and diesel in the latest monthly review...

Smart cards for travelling public officials to cut costs

National Treasury. FILE PHOTO | NMG  Public servants will be issued with smart cards loaded with e-cash to spend while traveling abroad in a move aimed at reducing ballooning expenditure on foreign and domestic trips.The new austerity measure proposed Thursday also...

Equity joins KCB in race to crack Ethiopia market

KCB chief executive Joshua Oigara and Equity chief executive James Mwangi. FILE PHOTOS | NMG  Equity Bank Group #ticker:EQTY has opened a representative office in Addis Ababa, joining KCB #ticker:KCB in the race to crack the Ethiopian market that has so...

7 Chinese traders in Gikomba now kicked out of the country

Kenya Investment Authority chief executive Moses Ikiara. FILE PHOTO | NMG  Interior Secretary Fred Matiang’i has deported seven Chinese nationals found trading illegally in Gikomba market after an exclusive Business Daily story.The story revealed the presence of Chinese merchants in the...

Plan for office lease cost review in austerity drive

The cost of rentals for building leased by the State rose to Sh5.9 billion in the year to June, 2018. FILE PHOTO | NMG  The Government will negotiate afresh the cost of leasing offices to cut rent under austerity measures that...

10pc import duty removal signals lower timber cost

Three lorries from Kenya Prisons department detained at Eldama Ravine Police Station on April 4, 2018 after Kenya Forest officers nabbed loaded with Timber at a Sawmill near Chemususu forest, Baringo county. FILE PHOTO | NMG  The cost of imported timber...

Universities face job cuts as State orders mergers

Students queue to register for admission at a local university. The Treasury has announced radical measures that will see some of the 32 public universities merge. PHOTO | BENSON MOMANYI   Job cuts loom in 74 universities and campuses after the...

Small firms to save for old-age medical cover

The scheme was introduced last year to promote better health care for retirees. FILE PHOTO | NMG  Small companies and individual businessmen will now have a chance to save for post-retirement medical cover under a new proposal contained in Treasury Secretary...

New lifeline for local vehicle assemblers

Isuzu East Africa Vehicle Assembly plant on Mombasa Road, Nairobi. FILE PHOTO | NMG  Local motor vehicle assemblers have been granted a multi-billion shilling lifeline as the government mulls a new policy that will see it procure only locally-assembled vehicles.Treasury Secretary...

Lifeline for clients of troubled insurers

Treasury Secretary Henry Rotich. FILE PHOTO | NMG  Policy holders of firms in financial distress are headed for a major breakthrough after the National Treasury moved to ease compensation rules.Treasury Secretary Henry Rotich has proposed amendments to both the Insurance Act...

Steel and iron import costs to rise as State shields local makers

Workers at an affordable housing programme construction site in Ngara, Nairobi. FILE PHOTO | NMG  Importing commodities such as iron and steel will now cost more as the government moves to raise railway development levy on finished products from 1.5 per...

Boda bodas, tuktuks to foot passenger insurance bills

Motorcycles are fairly cheap, thus enabling many youth to acquire them for business. FILE PHOTO | NMG  Thousands of boda boda and tuktuk operators licensed to ferry people will soon be required to have third party insurance cover to safeguard their...

Tax amnesty planned to spur Gems listings

Nairobi Securities Exchange (NSE) trading floor as seen on April 25, 2019. DIANA NGILA | NMG  Small-sized companies that list on the Nairobi Securities Exchange (NSE) will be spared accumulated penalties and interest on tax arrears for previous two years in...

Withheld VAT cut by two-thirds to ease cash flow

Lack of an appropriate law has prevented companies from lodging withholding VAT claims. FILE PHOTO | NMG  Treasury Secretary Henry Rotich has proposed to cut withholding Value Added Tax (VAT) rate to two from six per cent in a bid to...

Withholding VAT ropes in caterers and cleaners

Food prepared by a catering company. FILE PHOTO | NMG  The National Treasury has extended its tax net to an array of services in a bid to fairly distribute the weight of the Sh3 trillion budget on more shoulders.Party-time services like...

Property sellers hit with doubled capital gains tax

KRA boss James Mburu (right) arrives with his predecessor, John Njiriani, at Parliament Buildings on June 13, 2019. PHOTO | FRANCIS NDERITU | NMG  The government will more than double capital gains tax resulting from gains through sale of property to...

China Southern launches direct flights from JKIA to Changsha

China Southern Airlines aircrafts. AFP PHOTO  China Southern Airlines has launched direct flights from Nairobi to Changsha, China as it seek to expand its base in East Africa and cash in on more revenue in the wake of heightened competition from...

Britain names Jane Marriott as first woman High Commissioner to Kenya

Ms Jane Marriott has been appointed as the British High Commissioner to Kenya. PHOTO | COURTESY | BRITISH HIGH COMMISSION, NAIROBI   Britain has appointed Jane Marriot as its High Commissioner in Kenya, taking over from Nic Hailey who is set to...

Inside Rotich’s Sh3.1trn budget – Business Daily

Treasury CS Henry Rotich. FILE PHOTO | NMG  National Treasury CS Henry Rotich will this afternoon present a Sh3.1 trillion for the financial year starting next month with the bulk of spending used in repaying debt and recurrent spending on items...

Rotich targets tax cheats to fund Sh3.1trn budget

Treasury secretary Henry Rotich. FILE PHOTO | NMG  Treasury Secretary Henry Rotich is set to announce tough tax compliance measures intended to catch defaulters using smart technology in his bid to raise funding for the Sh3.1 trillion budget starting July 1.Mr...

Matiang’i orders the deportation of Chinese traders

The Chinese sellers who are involved in import, wholesale and retail trading have been edging out local traders who can hardly match the new, deep pocketed competitors.

WorldRemit launches business payments service

WorldRemit launches business payments service - Business Daily ...
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2013 presidential aspirant nabbed with Sh13m drugs

17% of pupils abusing drugs, NACADA survey shows. Photo/Courtesy Zadock Angira @PeopleDailyKe Former soldier and unsuccessful 2013...

Hope at last for youth as Sh100bn fund set up

A fund targeting over Sh100 billion has been set up to train and help five million young people in Kenya to get...

America-based insurer targets expatriates in Kenyan entry

Cigna’s entry will step up competition for global health insurers. FILE PHOTO | NMG  American health...

Manhunt Launched for Govt Officials Who Grabbed KBC Land

The Directorate of Criminal Investigations (DCI) has launched a manhunt for senior government officials and politicians who grabbed land belonging to national broadcaster Kenya...

USA advance with Sweden win, Cameroon snatch dramatic last 16 spot

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DPP wants Waititu case expedited : The Standard

DPP office on Wednesday told a Kiambu court that it erred in giving anticipatory bail to Governor Ferdinand Waititu.

Murunga keen on taking up Mean Machine assignment

Coach Paul Murunga conducts a training session at the University of Nairobi grounds on Wednesday. Photo/ALEX NJUE ...

Kenya takes the lion’s share of Sh143 billion private equity deals in EA region

Kenya takes the lion’s share of Sh143 billion private equity deals in EA region. Reuben Mwambingu...

Chinese clinic among 30 shut in ongoing crackdown on herbal clinics

Kenya's drug regulatory authority Pharmacy and Poisons Board (PPB) has shut at least 30 herbal clinics and arrested 29 people in the ongoing crackdown...

South Sudan lawmakers quit budget presentation over unpaid public salaries

South Sudanese lawmakers stormed out of a budget presentation by the finance minister on Thursday, with one citing frustrations over non-payment of salaries...
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