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Editorial

Editorial

The Future of E Payments – Are You Ready?

The actual definition of an electronic payment is simple: when you transfer money from one account to another electronically, i.e., without the need for...

10 New Year’s Resolutions You Can Steal from Philosophers

 by SCOTTY HENDRICKS Finding New Year’s resolutions isn’t always easy. To help you out, we’ve gotten ideas from some of the greatest thinkers of all time. 1....

JOB CREATION IN EAST AFRICA DROPS TOWARDS END OF 2017

Job creation in East Africa has dropped rapidly in the last month. Kenya has witnessed a 12.3% drop with its job market index moving...

11 Crypto Currencies You want to know

Crypto currencies are  digital currencies that use encryption (cryptography) to generate money and to approve transactions. New Coins are created by  mining. Review the list of...

“Security is Key for Realizing Vision 2030”

Major (Rtd)Bashir Finds Niche to Provide Private Security in High Risk Areas He banks on his rich expertise in the military to redefine security services...

Mastercard Launches Kionect for Nairobi’s Smallest Shopkeepers

Mobile ordering and payments solution enables kiosk owners to access micro-loans  On the 6th of December 2017,MasterCard unveiled Kionect, a digital ordering system that empowers small...

KRA roots for integration of county, national revenue systems

The Kenya Revenue Authority (KRA) has offered to work with counties in order for them to meet their revenue targets.  Speaking in Nairobi during the ongoing Annual Tax Summit, KRA Commissioner for Domestic Taxes Benson Korongo said the national tax agency has signed memoranda ofunderstanding with a number of counties to collaborate on revenue mobilization. Commissioner Korongo said the areas of collaboration include capacity building, optimization of revenue streams as well as smart enforcement support. "Already, we havedeveloped a training curriculum for county revenue staff, through the Kenya School of Revenue Administration," he said. Mr. Korongo urged counties to leverage on technology by integrating their revenue collection systems with those of other national government agencies. "This willfacilitate counter checking taxpayer profiles against information held in other databases," he said. KRA will further offer counties expertise in forecasting and determining alternative revenue streams. The nature of capacity building to beoffered will be in both staff numbers and skills.  Under the theme of „Rethink, Remodel and Rebuild', the third Annual Tax Summit seeks to stimulate discussions that focus on profound and radical change that will steer taxadministration in a new direction. In his address at the summit, KRA Commissioner General John Njiraini said that leveraging on collaboration and technology to enhance revenue performance is "no longer achoice but a necessity". He added that on top of linking the customs and domestic taxes systems, tax payment systems will also be linked to the government IFMIS platform. Linking tax systems to IFMIS will ease issuance of tax compliance certificates and in turn facilitate businessmen to seamlessly apply for tenders at both national and countylevels. In a speech read on his behalf, National Treasury Cabinet Secretary Henry Rotich acknowledged   the   need   for   broadening   the   tax   base   and   making   revenue administration more efficient. "We need to ensure that revenue systems are interconnected in order to make use of the information in the systems. I believe this will go along way in eliminating tax evasion and bringing each and every eligible taxpayer to the tax net," he said The three-day annual tax summit ends on 1st December, 2017 at the University of Nairobi‟s Chandaria Auditorium. Other topics lined up for discussion include: revenueopportunities in the digital economy, combating illicit trade in excisable products and netting the informal and MSME sectors. -     Ends -

Tuskys sharpens marketing arsenal to ward off multinationals threat

...projecting a 30% festive season growth, unveils Deals Poa Customer Reward campaign with 20 cars up for grabs Regional retailers Tusker Mattresses Limited has confirmed...

Passion and Resilient Pays off for Gilbert Cheruiyot

Although he started off his business career in a low note, the budding entrepreneur did not give up and today he is the chief executive...

East Africa Job Market Report: October 2017_Update.

Over the last few months Kenya’s softening economy has put thousands of jobs in corporate Kenya on the line. Political uncertainty coupled with the...
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