First K20,000 you only pay K750 taxes, VAT on newspapers removed
Constituency Development Fund upped to K5 million per constituency
Customs measures effective from tonight
Removed minimum tax on turnover has been removed.
Taxes on gains from selling shares removed
Initial investment allowances is back to 100 percent and Transport allowance also included.
Export allowances: Correct basis taxable income from export proceeds.
Export allowance increased to 25 percent.
Social contributions towards hospitals, schools and sports development will be tax deductable up to 50 percent
Value added and other Income taxes from July 1, 2012
PAYE:K15000 tax free, next K5000 goes at 15 percent
Pensions Act: Section 13 has been amended.
Increased Corporate tax on mobile operators: From 30 percent to 33 percent.
In order to attract investment:
VALUE ADDED TAXES
VAT on machinery removed.
VAT financial services removed.
VAT on newspapers
VAT on bread removed
No DUTY ON KAUNJIKA
Tax on sachets increase by 250 percent
Medical equipment now duty free.
Duty on Water equipment removed
No taxes on Buses above 45 seating capacity
Duty free allowance for non commercial purposes now to K150,000