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Business

Tribunal rules switching services exempt from VAT in blow to KRA
Business

Tribunal rules switching services exempt from VAT in blow to KRA

The judgment arose from a case filed by Kenswitch, which was contesting a Sh41.6 million VAT demand on income earned from switching fees. Kenswitch manages interbank ATM and point-of-sale connectivity, allowing cardholders to access banking services across different institutions. The tax agency insisted that the firm’s income was tied to technology services and should attract VAT.

State moves to expand coffee growing into new counties
Business

State moves to expand coffee growing into new counties

The State has created national and county teams to oversee a two-year plan that seeks to recover land lost to real estate, macadamia and avocado farming, and revive interest among smallholders who over the years abandoned coffee due to low earnings.

Kenya launches geothermal fertiliser plant to cut import strain
Business

Kenya launches geothermal fertiliser plant to cut import strain

Fresh data shows fertiliser imports have eased for a second year after record levels in 2023. Between January and June this year, imports reached 443,701 tonnes valued at about Sh25.63 billion, slightly lower than the 445,857 tonnes worth Sh27.71 billion recorded in the same period last year. The decline extends the drop from the 2023 peak of 629,566 tonnes valued at Sh44.8 billion, a two-year contraction of roughly one-third in quantity and more than two-fifths in value.

Cane crunch deepens as sugar output declines
Business

Cane crunch deepens as sugar output declines

Figures from the Kenya National Bureau of Statistics indicate sugar mills produced 406,807 tonnes between January and August, compared with 541,681 tonnes in a similar period in 2024. This decline of 24.89 per cent has been linked to a lack of fully grown cane after farmers and processors harvested ahead of schedule in previous cycles and scaled back planting, leaving plantations struggling to regenerate.

Trump says TikTok deal with China may be finalized during meeting with Xi
Technology

Trump says TikTok deal with China may be finalized during meeting with Xi

Top officials from China and the United States reconvened on Sunday for a second day of trade talks in Malaysia as Trump began his three-nation Asia tour. His meeting with Xi is scheduled for Thursday, October 30, where they are also expected to discuss tariffs, trade, fentanyl, agricultural exports, and rare earths.

CBK survey shows firms boosting staff for year-end surge
Business

CBK survey shows firms boosting staff for year-end surge

The survey, which included responses from over 1,000 private-sector chief executives, indicates that businesses anticipate higher orders, increased sales, larger production volumes, and more employment opportunities in the fourth quarter. The optimism is linked to seasonal trends and a continued easing of monetary policy, which has lowered borrowing costs and lifted confidence across sectors such as agriculture, manufacturing, services, and tourism.

KRA to temporarily shut down iTax platform for routine upgrade
Business

KRA to temporarily shut down iTax platform for routine upgrade

During that period, users will not be able to file returns, generate payment slips, update their tax profiles, or request compliance certificates. KRA said the short disruption is part of its effort to improve system performance and provide a better experience for taxpayers.