Business NewsThe refunds are expected offer financial relief to businesses worst hit by the Covid-19 pandemicThe Kenya Revenue Authority (KRA) has begun paying out Sh10 billion in Value Added Tax (VAT) refunds following a presidential order and release of funds by National Treasury. “We have begun paying various businesses entities VAT refunds from special funds allocated by the government and released to KRA and expect to finalise the payments process in one week”, said the Commissioner for Domestic Taxes Elizabeth Meyo. The refunds are expected offer financial relief to businesses worst hit by the Covid-19 pandemic especially in horticulture, transport and hospitality sectors of the economy. SEE ALSO: Dutch flower company loses Sh1.3 billion tax case against KRADuring his last address to the nation, President Uhuru Kenyatta unveiled eight-point economic stimulus programme. First and Foremost, we have allocated Sh10 billion to fast-track payment of outstanding VAT refunds and other pending payments.

Source: Standard Digital May 30, 2020 07:16 UTC