Monthly Business Tax Target Revealed: Concerns Arise

HomeNewsMonthly Business Tax Target Revealed: Concerns Arise

Monthly Business Tax Target Revealed: Concerns Arise

Tuesday, the Kenya Bureau of Standards invited Kenyans to comment on the proposed Standards Levy Order 2023, which would require businesses to pay a monthly tax.

KEBS requested that stakeholders, manufacturers, professional bodies, non-state actors, and development partners contribute their views and feedback to the public participation exercise.

“The levy order contains provisions as to the evidence by which a person’s liability to the levy or his discharge of that liability may be established, as well as the time at which any amount payable by any person by way of the levy shall become due and how it shall be recoverable by the Director,” KEBS stated in part.

According to KEBS, the Standards Levy is a monthly payment made by all Manufacturers to KEBS.

The law went into effect for the first time in 1990, and with the proposed 2023 amendments, every manufacturer will pay 0.2% of their gross revenue, excluding VAT and discounts.

An obligation

Every registered business that engages in manufacturing will be required to pay a minimum of Ksh1,000 per month and a maximum of Ksh400,000 per year under the Standards Levy Order 2023.

ALSO READ: New Mobile & Camera Tax Introduced by Government

The tax must be paid by the 20th of the month following the manufacturer’s.

KEBS cautioned manufacturers, “If you fail to pay the Levy, you are guilty of an offense under the Standards Act of the Laws of Kenya and are subject to prosecution.”

You will not be required to pay the tax. If your annual revenue is less than Ksh200,000.

How to provide comments on the proposal

If you concur or disagree with the levy, please submit your comments by September 22, 2023, to standardslevyorder@kebs.org.

KEBS has also invited Kenyans to attend in-person meetings to learn more about the levy and express their opinions.

Monthly Business Tax Target Revealed: Concerns Arise

MOST READ