Latest tax numbers show that collections dropped by Sh20 billion in April, compared to a similar period last year. JOB LOSSESAll sectors of the economy are hurting, tax collections have dropped and hundreds of companies are retrenching staff in massive job haemorrhages to ever visit East Africa. Kenya’s economy is projected to take a big hit from the pandemic, bigger than what the post-election violence and the global economic meltdown of 2007 did. Latest tax numbers show that collections dropped by Sh20 billion in April, compared to a similar period last year. Treasury data indicates that tax collections shrunk to Sh120.1 billion in April from Sh140.41 billion in same month last year, representing a 14.46 per cent drop.

Source: Daily Nation July 06, 2020 07:52 UTC