Why State restored turnover tax for small businessesFor years now, the informal sector has been a key economic hub in many parts of the world. Early this year, the Government took a stab at the taxation of the informal sector by introducing a simpler tax regime known as presumptive tax. Unlike other taxes, presumptive tax is a ?nal tax and does not require ? Businesses with an annual turnover of less than Sh5 million qualify for both turnover tax and presumptive tax. SEE ALSO :KRA mulls mobile payments to cure turnover tax headacheDo not miss out on the latest news.

Source: Standard Digital January 13, 2020 08:15 UTC