KENYA'S 2.91 TRILLION BUDGET FOR FINANCIAL YEAR 2020/2021

Treasury CS Ukur Yattani, unveils the 2020/2021 2.91trillion budget yesterday 11th June 2020 to the National Assembly for approval. The final spending estimates are slightly lower than the present Ksh 3 trillion budget approved in December's first supplementary budget.The theme was on "Stimulating the Economy to safeguard livelihood, streamline jobs and Steer Economic Recovery." This article will touch on the budget for Education, Youth, Persons with Disabilities and the highlights of the budget.

VALUE ADDED TAX - DIGITAL MARKET PLACE SUPPLY - TO TAX YOU FOR YOUR MOBILE APPS ET AL

KRA - The Kenya Revenue Authority plans to tax every Kenyan downloading e-books, movies and mobile apps. In the Value added tax on the Digital market place supply, the regulations proposes the taxation on news, magazines, journals, TV shows streaming, music, podcasts, online gaming, software, drivers,website filters, and firewalls. Other targeted services include website hosting, online data warehousing, file-sharing, and cloud storage services.

UBER AFRICA LAUNCHES DIGITAL WALLET

Uber is launching its Uber cash digital wallet feature in sub-saharan Africa through a partnership with San Francisco based Nigeria founded fintech firm Flutterwave. There are different top-up methods available, Kenyans will use Mpesa. Alon Lits, Uber's general manager for sub saharan Africa says that Uber cash will go live this week with the aim to increase Uber's ride traffic in Africa by boosting the volume of funds sent to digital wallets and reducing friction in the payment process.