Category: tax
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Tax disputes deny KRA Sh313 billion in revenue
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Court cases have led to the withholding of Sh313.5 billion in uncollected taxes, highlighting the negative impact of disputed orders on the Kenya Revenue Authority (KRA) revenue increase. This was included in disclosures released by the Parliamentary Budget Office (PBO) which showed 747 cases in the Tax Appeal Tribunal (TAT)…
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Safaricom raises alarm over turning paybills into tax registries
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Safaricom says it is deeply concerned by the state’s plans to convert mobile payment bills and turn numbers into a tax collection registry to weed out tax evaders and raise revenues by billions of shillings. The telco says the government should be careful not to impact progress on digitizing payments…
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Safaricom raises alarm over turning paybills into tax registries
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Safaricom says it is deeply concerned by the state’s plans to convert mobile payment bills and turn numbers into a tax collection registry to weed out tax evaders and raise revenues by billions of shillings. The telco says the government should be careful not to impact progress on digitizing payments…
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Detroit Becomes Largest US City To Accept Bitcoin And Crypto For Tax Payments
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On Thursday, Detroit announced plans to become the largest city in the United States to accept bitcoin and other cryptocurrencies to pay taxes. according to Local media reportsResidents will be able to make payments through a PayPal-operated platform from mid-2025 as the city looks to modernize its payment systems. Cryptocurrency…
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Loose Women’s Kaye Adams prevails in ten-year battle with HMRC over IR35 tax dispute
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Kay Adams, presenter of ITV’s Lose Women, has won a decade-long dispute with HM Revenue & Customs (HMRC) over her employment status. After several court victories, HMRC announced it would not appeal against Adams’ latest win, ending a case that had highlighted significant criticism of the tax body’s approach to…
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Berry Bros & Rudd families warn inheritance tax changes threaten legacy of historic wine business
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The Berry and Rudd families, owners of prestigious London wine merchant Berry Bros & Rudd, have raised concerns about recent inheritance tax reforms which could threaten the future of their 376-year-old business. The Labor government’s proposed 50% cut in commercial property relief – which allows family-owned businesses to pass on…
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Suppliers warn farming inheritance tax will jeopardise UK food security
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Farming leaders and suppliers are warning that Chancellor Rachel Reeves’ inheritance tax on farming assets exceeding £1m could undermine Britain’s food security, making the UK more dependent on foreign imports. Business leaders, including Nigel Murray, managing director of Booth Supermarkets, have expressed concerns that the tax changes could erode incentives…
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Suppliers warn farming inheritance tax will jeopardise UK food security
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Farming leaders and suppliers are warning that Chancellor Rachel Reeves’ inheritance tax on farming assets exceeding £1m could undermine Britain’s food security, making the UK more dependent on foreign imports. Business leaders, including Nigel Murray, managing director of Booth Supermarkets, have expressed concerns that the tax changes could erode incentives…
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James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses
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Sir James Dyson has strongly criticized Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK. Under the changes, family-owned businesses and farms worth more than £1m will face a 20 per cent inheritance tax…
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James Dyson condemns ‘spiteful’ inheritance tax in budget, warns of impact on family businesses
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Sir James Dyson has strongly criticized Chancellor Rachel Reeves’ latest Budget, describing the new inheritance tax policy as a “spiteful” move that threatens the future of family businesses in the UK. Under the changes, family-owned businesses and farms worth more than £1m will face a 20 per cent inheritance tax…
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High street retailers face bleak festive season amid tax hikes and rising costs
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High street retailers are bracing for a tough Christmas trading period, as rising taxes and rising costs raise concerns about the viability of many businesses in town and city centres. A recent report from consultancy BDO revealed that in-store sales in October grew by just 1.7% compared to the previous…
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High street retailers face bleak festive season amid tax hikes and rising costs
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High street retailers are bracing for a tough Christmas trading period, as rising taxes and rising costs raise concerns about the viability of many businesses in town and city centres. A recent report from consultancy BDO revealed that in-store sales in October grew by just 1.7% compared to the previous…
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Treasury revives plans to tax popular infrastructure bonds
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National Treasury has revived plans to impose a 5% withholding tax on interest earned on infrastructure bonds with maturities of at least three years. Infrastructure bonds (IFBs) have been tax-free since they were first issued in February 2009 – meaning they will be subject to tax for the first time…
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Wine prices to rise, beer to fall in new tax plans
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Wine prices are expected to rise while the cost of beer will fall under new proposals from the National Treasury, which has imposed excise duty on drinks based on their alcohol content by volume. The Excise Laws (Amendment) Bill, 2024 seeks to restructure the excise duty rate on wine and…
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Online taxis, food delivery firms, freelancers face hefty 6pc tax in new plan
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Ride-hailing services, online freelance jobs and food delivery companies face a tougher 6% tax, as the Treasury revived a proposal to raise revenue from these sources. In its new proposals, the Treasury proposed a new significant economic presence (SEP) tax at a rate of six percent, four times the 1.5…
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Family businesses face new inheritance tax burden as relief cut to 50%
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In a major shift affecting family-owned businesses, the Chancellor of the Exchequer has announced that the Business Property Relief (BPR) will be reduced to 50% from April 2026, exposing thousands of family businesses to inheritance tax for the first time in decades. Although business assets were previously exempt, they will…
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Tax pain signal in new Sh78bn IMF loan deal
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Kenyans are facing more tax pain after the International Monetary Fund (IMF) cited the need for higher revenues as a condition for its multi-billion dollar loan facility for the country. The International Monetary Fund says Kenya underperformed in terms of revenues in the year to June – the period before…