For years now, the informal sector has been a key economic hub in many parts of the world. As various economic findings have unanimously put it, the economic contribution of the informal sector in most developing countries’ Gross Domestic Product is substantial. Apart from the substantial GDP contribution, the informal sector is one of the biggest employers in Kenya. According to an article published by the Institute of Economic Affairs in 2016 titled Economic Burden of the Informal Sector, the sector currently accounts for over 80 per cent of employment opportunities in Kenya. Implementation of presumptive tax phased out Turnover Tax (ToT).

Source: The Star December 31, 2019 10:52 UTC