New tax to reduce tea farmers earnings

[Image source: Reuters]
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Business Daily | by Gerald Andae


Small-scale tea producers will lose more than Sh754 million annually after a new tax took effect on January 1, Kenya Tea Development Agency (KTDA) has warned urging for a review of the tariff.

Companies will be required to remit one percent of their gross turnover every month to the taxman whether or not they have posted a profit after the enactment of Finance Act of 2020.

Further, they will remit the minimum tax if it is higher than installment tax…

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[Image source: Reuters]

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