Hidden tax which has not been debated widely has emerged. 0.15 % excise duty on TISS through inter bank transfer. It means to you have to pay tax to pay to your supplier, not heard of it from anywhere in the world. Our law makers seem to be totally unaware of it .
This duty in Kenya is on bank charge not on the whole TISS amount hence it is nominal . For example if you transfer 100 million through TISS even to your account in another bank you have to pay 150,000/- as excise duty plus normal TISS charge of 10,000 .
Wow what a way to rob the business and industrial community. !
This duty in Kenya is on bank charge not on the whole TISS amount hence it is nominal . For example if you transfer 100 million through TISS even to your account in another bank you have to pay 150,000/- as excise duty plus normal TISS charge of 10,000 .
Wow what a way to rob the business and industrial community. !