Author: Khusoko

Taxpayers registered for the Added Tax obligation more often find themselves in a refund position during their transactions. A refund position, as the phrase suggests, means that the taxman owes a taxpayer some money. A taxpayer could end up in a refund position because of many factors. The key and the most common factor that puts them in this position is excess input tax resulting from zero-rated supplies. A taxpayer could also end up in a refund position from overpayments or credits resulting from the withholding VAT system as well as taxes paid in error. VAT paid on bad debts…

The Kenya Intellectual Property Rights Office has been directed to offer free patents to viable innovations with respect to all innovations that have emerged from the Young Scientists Kenya (YSK) Exhibitions, since 2018. President Uhuru Kenyatta made the directive on  Saturday, August 3, when he presided over the official opening of second YSK exhibition at Kenyatta International Conference Center (KICC). He said the country’s future lies in scientific innovations and called for concerted efforts by all stakeholders to ensure that transformative innovations are adequately safeguarded. “Further, and to encourage linkages with industry, I similarly direct a waiver of trademark fees…

Safaricom is offering 50 per cent discount for its Home Fibre packages, for the next two months, August and September 2019, to all its new customers. Chief Executive Officer Michael Joseph, said this was in line with the telco’s quest to offer high-speed broadband accessibility at affordable prices. “As a result, we have designed the 50 percent discount to appeal to those who would like to experiment and try out the service,” said Michael Joseph in a statement on Monday. “We continue to record remarkable growth driven by demand for unlimited entertainment, working at home, home CCTV among other emerging…

I warmly greet Your Excellences, Business Leaders and friends of Africa. And thank you for the invitation. There are three of us from the African Union Commission.  I am truly happy to be here in Chicago, this historical city, which is billed to have been founded by Jean Baptiste Point du Sable, a Free Black Man and trader of African descent, who came from Haiti in the late 1770s. Let me at the outset congratulate Mrs. Toyin Umesiri, NAZARU Founder for initiating the Trade With Africa Business Summit.  I commend you for this impressive and progressive initiative. We are all…

Innova Limited and Pezesha Africa have been admitted to the Capital Markets Authority’s Regulatory Sandbox to live test innovative solutions with the capacity to deepen and enhance the efficiency of capital markets. The third fintech firm admitted has elected to remain anonymous during its three months test period, except to its closed group of test subjects, an option provided in the Regulatory Sandbox PGN. In a statement, Capital Markets Authority Chief Executive Paul Muthaura said: “The admission of the three firms is an important milestone noting that the Authority had set itself a target to admit five firms to the…

DusitD2, a five-star hotel in Nairobi, reopened on Wednesday six months after an attack by the Al-Shabab militants in January that killed 21 people. Michael Metaxas, general manager of Dusit D2 Hotel Nairobi, said its reopening was a reprieve for tourists and business travelers. “Over the past five years, dusitD2 Nairobi has welcomed leisure and business travellers from all corners of the globe and established itself as one of the leading international hotels in the city,” said DusitD2 Nairobi, General Manager, Mr Michael Metaxas. “We now look forward to reaffirming that position through our unwavering commitment to service excellence, our…