Prime News Kenya

Current Business News in Kenya: Banking | Economics

Banks to pay for cybercrimes - CBK

The Central Bank of Kenya (CBK) has issued new rules to payment service providers including commercial banks and technology companies warning the boards of directors that they face “ultimate” liability in case of criminal breaches.

KRA to deduct salaries in non-tax return penalties

About 400, 000 people could have their Personal Identification Numbers (PIN) deactivated and pay deducted after the Kenya Revenue Authority sent notices to those who failed to file their tax returns by June 30.

Kenya Airways targets more domestic routes

National carrier Kenya Airways has received an air service licence (ASL) from the aviation regulator, paving the way for it to commence new domestic flight routes in the near future.

Petrol price goes up

Kenyan drivers will start paying more for fuel after the Energy and Petroleum Regulatory Authority increased the price of Super Petrol by Sh0.29 to retail at Sh115.39 per litre for the next one month.

Neglected envoy homes cost Kenya Sh1.9bn

Taxpayers spent Sh1.9 billion in rent for Kenyan diplomats over the nine months to September in top cities like London, Washington and New York who have been forced to rent homes as their State-owned residences fall apart due to neglect.

KRA sets stage for new water tax

The Kenya Revenue Authority (KRA) is preparing to raid drinking water and other beverages from September in an effort to raise an additional Sh3.6 billion from excise tax following the introduction of additional excise stamps.