PHOTO | SILA KIPLAGATBrace for higher monthly income tax and increase in food and fuel prices in 2021 as the Covid-19 relief comes to an end next month. The government reduced Paye to cushion millions of workers from the economic effects of the coronavirus pandemic. The government is also expected to revert Value Added Tax (VAT) to 16 per cent from current 14 per cent, meaning the prices of fuel, food, drugs and other basic commodities will shoot up. Companies will go back to paying corporate tax at the rate of 30 per cent from the current 25. Mr Yatani added that the government began experiencing pressures to deliver on its promises even before Covid-19 pandemic.

Source: Daily Nation November 26, 2020 06:22 UTC