In what is more likely to be a challenging year ahead, 2022 has demonstrated patterns of uncertainty and unpredictability, that has in retrospect been detrimental to economic growth. The recovery from the COVID-19 pandemic albeit present, has been slow and leisurely paced. Its implications were dreadful and destructive to functioning of the global economy. In …
Paragraph 10 of part II of the First Schedule of the Value Added Tax 2013 (http://kenyalaw.org) had exempted Insurance Agencies, insurance brokerage, stock exchange brokerage and tea and coffee brokerage services from VAT. This was meant to spur economic activity in sectors that had witnessed slow growth over the years. For example, by exempting VAT …
THE NEGATIVE IMPACT OF VAT ON INSURANCE AGENCY AND BROKERAGE COMMISSION Read More »
