Coronavirus (Kenya): No Kenyan Will be listed by the CRB for failure to Pay Loans in Time

Coronavirus (Kenya): No Kenyan Will be listed by the CRB for failure to Pay Loans in Time

Tax Reliefs and Reductions in Kenya following the coronavirus outbreak

Kenyans especially small scale traders are a happy lot today following President Uhuru Kenyatta’s directive on Wednesday, March 25, 2020, suspending the repayment of loans following the coronavirus outbreak in Kenya.

During an official media briefing, the President made it clear that no Kenyan will be listed by the Credit Reference Bureau for failure to pay their loans.

This comes as a big relief to small- scale traders who have been forced to stay indoors to curb the spread of coronavirus in Kenya.

Curfew

Besides, the President has imposed a curfew effective Friday, March 27, 2020.

The curfew will help to limit unnecessary movements from one point to another thus reduce the chances of Coronavirus spread.

The curfew will limit the unnecessary movements of Kenyans between 7.00 P.M. and 5.00 A.M.

Tax Reduction and Reliefs in Kenya

President Uhuru Kenyatta has reduced Kenya’s Value Added Tax from 16% to 14%. The president also reduced Pay As You Earn, PAYE from a maximum of 30% to 25%.

This move aims at increasing disposable income.

Pay Cuts for Kenyan leaders

The President and Deputy President will also have an eighty percent salary cut.

Cabinet Secretaries will also have a 30% pay cut to increase disposable income.

Permanent Secretaries, on the other hand, will get a 20% pay cut to support the economy.

Kenyans earning Below Kshs 24, 000, will enjoy 100% tax relief following the Covid 19 outbreak in Kenya.

The president has also confirmed three more coronavirus positive cases in the country.

This brings the total number of coronavirus positive cases to 28 up from the initial 25.