Treasury to pay tax refunds in January

Treasury secretary Henry Rotich said plans are under way to pay KES 10 billion of the estimated KES 30 billion backlog in January and to finish the rest within the first quarter of the year. The settlements will be made by issuing the claimants with tradable bonds instead of cash, a source familiar with the Treasury’s plan said. [...]

Mumias Sugar closes down for 45 days on cane shortage

Inadequate cane has forced Mumias Sugar Company (MSC) to close down for 45 days during which time the miller will undergo maintenance. “We did not take a break in May as expected. All sugar firms usually shut to appraise machines and we are no exception,” Coutts Otolo the managing director told journalists. He added that the available sugarcane was too young to be harvested, and that the crop will be mature when the miller resumes operations. [...]

Uhuru says tax collectors will be vetted as Safaricom is named top taxpayer

An in depth framework for the placement of staff in inland revenue, customs and border protection agencies will be set up, President Uhuru Kenyatta announced at the start of the Taxpayers' Week. Safaricom Limited (SCOM) was once again crowned the top taxpayer corporation followed by the Teachers Service Commission and the Ministry of Interior and Coordination of National Government. [...]

More on KRA employees:

KRA employees’ lifestyles to be put under radar in war on graft

The Kenya Revenue Authority is to conduct a lifestyle audit of its employees as it seeks to weed out corrupt individuals from its ranks. The exercise will seek to evaluate an individual’s lifestyle vis-a-vis remuneration to establish any inconsistencies on how they acquired their wealth. KRA board chairman Marsden Madoka said during this year’s annual taxpayers awards. [...]

Authority to help ease traffic congestion in Nairobi on the way

Plans by the Government to ease traffic congestion in Nairobi and its environs through establishment of a bus rapid transit system ( BRTS ) are gathering steam. This follows the signing of a memorandum of understanding (MoU) among five counties—Nairobi, Kiambu, Machakos, Murang'a and Kajiado— which provides for the creation of a National Metropolitan Transport Authority ( NMTA ). [...]

IMF boss cautions Kenya, others over excessive bonds issue

The International Monetary Fund ( IMF ) has warned African States against rushing to issue Eurobonds, saying they may face exchange rate risks and problems repaying debts. African governments facing falling levels of foreign aid are on a borrowing spree to pay for new roads, power stations and other infrastructure, prompting concern from many analysts that this could raise debt levels and undermine growth. [...]