Kenya’s Treasury 2024 budget proposes 2% hike to 18% The ruling Kenya Kwanza coalition has proposed a 2% rise in the standard VAT rate from 16% to 18% in the Draft Medium-term Debt Strategy for the period 2024-25 and 2026-27. The rise would be to
COVID-19 hospitality VAT rate cut introduced in July 2020 now withdrawn The UK temporary Value Added Tax rate cut on hospitaliy and tourism has now ended, with the sector now returning the standard VAT rate of 20%. The pandemic cut to support hotels, catering and
COVID-19 hospitality VAT rate cut tapering extension The UK has extended the temporary Value Added Tax rate cut to 5% on hospitality and tourism until 30 September 2021. It will then rise to 12.5% until 30 April 2022. From 1 May 2022, it will return
Kenya has returned its standard VAT rate to 16% from 14% on 1 January 2021. The rate was temporarily reduced to 14% on 1 April 2020 to help support businesses and consumers as the COVID-19 pandemic struck in 2020. The African country also reduced its
