EMPLOYEES AND ENTITIES TO BRACE THEMSELVES FOR THE NEW TAXES IN THE NEW YEAR
Following the enactment of the amendment Act No. 2 of 2020 published on 24th December, 2020 and legal notice No. 206 of 2020 in respect of employment income, corporation tax and Value Added Tax, the new tax laws replace the rates introduced in April 2020 to cushion Kenyans against the adverse effects of COVID-19 Pandemic.
- PAYE – We have attached the new individual tax bands applicable as from January Payroll month. It’s worth noting that the monthly personal relief was retained at Kshs. 2,400 per month or Kshs. 28,800 annually. Additionally, the new act has done away with 15% and 20% rates in the PAYE Tax Band. This means that the employees earning over Kshs 32,333 will be forced to dig deep into their pockets to pay taxes higher than the period before COVID…
Please Click Here to see the full notice as published by KRA
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