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KENYA IMPOSES DIGITAL TAX

On the 1st of July 2020 a Digital Tax will come to effect in Kenya on technology companies doing business in country.

In his budget statement for the financial year of 2020/2021, Kenya Finance Minister Ukur Yatani announced this new tax in a bid to squeeze out more money as the country battles with the effects of COVID19.

Kenya joins a list of countries that have imposed tarrifs on big tech giants such as Google, Netflix and Facebook. 

The US is opposed to digital taxation saying it unfairly targets American firms. 

Kenya may risk its existing duty free exports deal to the US under Agoa. 

In the budget statement Ukur put emphasis on the government's stimulus package for the post COVID19 recovery worth $540 million. 

The package includes 5 billion shillings on rural infrastructure, 6.5 billion shillings for the Ministry of Education on hiring part time teachers and interns. Also 10 billion on pending bills with 3 billion for soft loans to SMEs.

Tourism will also get some stimulus of 4 billion with farmers getting e-vouchers worth 3 billion. 

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