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Kenya and Portugal sign avoidance of double taxation agreement

 

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Signing ceremony in Lisbon between Kenya 🇰🇪 and Portugal 🇵🇹 for avoidance of double taxation done Tuesday 10th, 2018.

 

Signing was done at the Ministry of Foreign Affairs of Portugal in Lisbon. It was signed by Cabinet Secretary, National Treasury &Planning Henry Rotich and António Mendonça Mendes, Secretary of State of Tax Affairs, Portugal and witnessed by Teresa Almeida, Secretary of State of Foreign Affairs and Cooperation, Portugal.

 

Avoidance of double taxation will create a conducive environment for investments and trade in goods and services between the countries by removing uncertainties on taxation occasioned by having two different jurisdictions at play.

 

The Draft Public Finance Management (Climate Change Fund) Regulations, 2018

 

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The Climate Change Fund (CCF) establishment is provided for under Section 25 of the Climate Change Act, 2016 as a financing mechanism for the priority climate change actions and interventions.

 

The National Treasury has finalized preparing the draft Public Finance Management (Climate Change Fund) Regulations, 2018 which have been posted to the National Treasury website www.treasury.go.ke.

 

US Companies to collaborate with Government in implementation of Big 4 Agenda

 

Nairobi, June 29, 2018

 

 

Treasury CS Henry Rotich sign an MOU with US Undersecretary for Commerce Mr Gilbert Kaplan at Treasury Building today where US companies will collaborate with the Government of Kenya in implementation of the big 4 Agenda of Jubilee government.

 

Some of the already identified projects are the 500,000 affordable housing units to be put up in the next four years, the leasing of health equipment and the road from Mombasa to Nairobi.

 

Mr Kaplan is leading a big delegation from the United States of America comprising of the US President's Advisory Council for doing business in Africa, US Private Sector players and the US government officials.

 

Present to witness the signing was the US Ambassador to Kenya Mr Robert Codec.

 

Kenya Government and United Nations Launch United Nation Development Assistance Framework (UNDAF) 2018 -2022

 

Nairobi, June 26, 2018

 

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From Left to Right: Cabinet Secretary Devolution and Arid and Semi Arid Lands (ASAL),  Eugene Wamalwa,   Cabinet Secretary  National Treasury and Planning , Henry Rotich  and United Nations Resident Coordinator /UNDP RR, Mr Siddharth Chatterjee officially sign United Nations Development Assistance Framework for Kenya (UNDAF) 2018 - 2022  today, June 26, 2018 at Panafric Hotel in Nairobi.

 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Signing Ceremony of Credit Facility Agreements with the French Development Agency (AFD)

 

Nairobi, June 21, 2018

 

 

 

 

 

Cabinet Secretary, National Treasury and Planning, Mr. Henry Rotich (2nd Right) and Director General /Chief Executive Officer, French Development Agency (AFD), Mr. Remy Rioux (3rd left) sign Credit Facility Agreements on June 21, 2018 at the National Treasury building in Nairobi. Witnessing the signing are among others: Cabinet Secretary for Water and Sanitation, Mr Simon Chelugui (Right) and the French Ambassador to Kenya , Mrs Kim Ramoneda (2nd Left).  
 
 

Public-Private Partnership (PPP) Disclosure Web Portal Launch

 

Nairobi, June 19, 2018

 

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The National Treasury and Planning Cabinet Secretary, Henry Rotich (Right) greets other participating officials after cutting a ribbon to officially launch the Public-Private Partnership (PPP) Projects Disclosure Web Portal Launch today, June 19, 2018 at Intercontinental hotel in Nairobi. The National Treasury, through the PPP Unit, is responsible for the overall coordination, promotion, and oversight of the implementation of the PPP program in the country, according to Kenya PPP program status report June 2018, which states that there are 72 PPP Projects in the pipeline.

 

CS Henry Rotich addresses the Press after presenting the 2018 – 2019 Budget Estimates

 

Nairobi, June 15, 2018

 

 

National Treasury and Planning Cabinet Secretary, Henry Rotich flanked by among other, Chief Administrative Secretary, Nelson R. Gaichuhie (2nd Left), Principal Secretary, Dr Kamua Thugge, National Treasury (2nd right) and Principal Secretary, Planning, Dr. Julius Muia, addresses the Press on Thursday, June 14, 2018 after presenting the 2018 – 2019 Budget Estimates of about 3 trillion at the National Assembly in Nairobi. The East frican Community member states: Tanzania, Uganda and the others, also presented their budget estimates for 2018 - 2019. 

 

CS Henry Rotich Reads 2018 – 2019 Budget Estimates

 

Nairobi, June 14, 2018

 

 

 

 

The National Treasury and Planning Cabinet Secretary, Henry Rotich arrives and welcomed by Senior Deputy Clerk, National Assembly, Michael Sialai at the the National Assembly before he presents his  2018 – 2019 Budget Estimates of Sh 2,550.5 billion today, June 14, 2018. 

 

Budget Statement 2018-19

 

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Download the Budget Statement 2018-19

 

KRA Times TowerThe Kenya Revenue Authority (KRA) collected Ksh76.83 billion in taxes last month. The continuing focus on growing inflows from the excise duty streams through ongoing crackdown on manufacturers.
Statement of actual revenue published by National Treasury Cabinet Secretary Mr. Henry Rotich, indicates the taxman had a good start to the financial year that begun in July.
Full year target is Ksh1.215 trillion, which is 16.19 percent or Ksh170 billion higher than the Ksh1.05 trillion target for last fiscal year ended June 30.


KRA missed the target for the 2014/15 year by a marginal 4.76 percent, collecting Ksh1.001 trillion which was however 3.86 percent more than the Ksh963 billion it netted in the year ended 2013/14. Last year’s revenues were boosted by intensified audits on transfer pricing by multinationals.
KRA Commissioner General Mr. John Njiraini, on July 1, backed electronic tax surveillance services through the iTax system and last year’s placing of senior staff on three-year contracts to boost collections this year.
“If we have already been able to achieve an annual growth of 15 percent for the last 10 years, we should even see better achievement in the future based on what we have put in place and the action that we are taking to also encourage Kenyans to partner and work with us”, Mr. Njiraini said.
The KRA had started this year with increased scrutiny on manufacturers and importers where it believes substantial revenue could be leaking.
The agency has embarked on a crackdown on manufacturers who have not complied with stringent excise licensing rules, a move Mr. Njiraini said will make manufacturers tax compliant.
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