Business highlights – Taxpayers face Ksh20,000 fine over failure to file returns on time

Business highlights – Taxpayers face Ksh20,000 fine over failure to file returns on time

Taxpayers face hefty fines over failure to file returns on time

  • Individuals who will fail to file annual returns for 2016 by June 30 deadline face a fine of 5% of the tax due or a maximum of Ksh20,000, the Kenya Revenue Authority said yesterday
  • The taxman said the new regime came into effect in January this year, warning that it will not tolerate those who fail to file their individual income tax returns on or before June 30

“We encourage people to file returns on time. The taxman will not carry any responsibilities,” KRA acting assistant manager for domestic taxes Wanja Wang’ondu said during a stakeholders’ forum in Nairobi.

The KRA requires taxpayers to file their returns online through the iTax platform.

READ ALSO: Treasury doubles tax on alcohol and cigarettes

State maintains tough stance on looming plastic bags ban:

  • Only plastic bags used in primary industrial packaging will be manufactured and circulated in Kenya after August 28 when the ban on plastic bags ban takes effect, environment authorities said on Tuesday
  • National Environment Management Authority (Nema) director-general Geoffrey Wahungu said no other plastic item would be exempted from the ‘total ban’ under the new regulations

The new rules also target dealers and retailers as well as users of the bags.

“Plastic bags are usually manufactured for single use and generally tear or puncture after a first use making them some of the most visible components of roadside and shoreline litter,” Prof Wahungu said adding that the menace must be brought to an end.

READ ALSO: KEBS to cancel permits for manufacturers of plastic bags

FKE says no to more maternity leave days

  • Employers have opposed changes to a law which seek to double maternity leave to six months from three despite the extra period being optional and unpaid
  • The Federation of Kenya Employers (FKE) says businesses cannot afford to give women the time off

The lobby group said that the proposed amendments to the Employment Act could damage their careers and deny them job opportunities if it is adopted

“Our economy cannot sustain such time-offs and the Bill is counterproductive,” said Jacqueline Mugo, executive director at FKE. “It is not that we do not understand that mothers need time with their children, but it is impractical.”

 READ ALSO: Governors endorse government plans to run free maternity programme through NHIF

 

 

 

 

Motorcycle sales up 183pc after Sh10,000 tax removal:

Motorcycle sales jumped 183 per cent in the three months to March after the government made the bikes cheaper with the removal of the Sh10,000 excise duty per unit.

Official data shows that the number of newly registered motorbikes hit 51,139 in the first quarter of the year compared to 18,032 units in a similar period of last year.

Sector players said the removal of excise duty last September, which had been slapped on the bikes in December 2015, was the main driver of the growth.

 

 

PrideInn Hotels risks closure in lease debt row:

A Mombasa-based hotelier has petitioned the High Court to wind up the PrideInn Group of Hotels over a Sh87 million debt which is linked to a lease row.

Businessman Salim Sultan Moloo, owner of Tropicana Hotels Limited, says in court papers that he leased his Eden Rock Hotel in Malindi to PrideInn Hotels in 2011, but claims the new tenants unilaterally cancelled the contract.

The debt was to be paid in installments by way of postdated cheques, but Mr Moloo, in an affidavit filed in court, says PrideInn Hotels began defaulting on the payments in 2012 and is yet to settle the sum.

The debt stood at Sh69.35 million as at May 2016, but carried an interest rate of 26 per cent per annum.

 

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