Impact of the national budget on the travel industry

June 20, 2020 / Comments (0)

Uncategorized

The Kenya Association of Travel Agents (KATA) on Friday June 19, 2020 held an online meeting to assess the impact of the national budget on the travel industry.

KATA hosted their appointed auditors Ronalds LLP who took the members through the Kenya Budget 2020/ 2021 and how it will affect business for travel agents.

Ronalds partner Mr Ronald Bwosi took members through a presentation on the Tax Amendment Act 2020, Finance Bill 2020 and the 2020/2021 budget.

Tax Laws amendment Act, 2020, he explained, brings into effect the tax measures directed by the President Uhuru Kenyatta during his announcement of the governments intentions to manage the COVID-19 outbreak.

“The Amendment Act also comes with other measures that aim at increasing the revenue channels and thus affect the operations of many tax payers significantly,” Mr Bwosi said.

His Colleague Mr Peter Mwanja further explained that the Finance Bill, 2020 has re-introduced some of the tax proposals initially proposed by the Tax Amendment Bill, 2020 but were rejected by the parliament. “Furthermore, the bill provides additional tax changes and other miscellaneous amendments,” he further said.

KATA members were engaged interactively in a session hosted by KATA CEO Ms. Agnes Mucuha, where they explored the various bills and the budget and its impact on the ailing businesses that have been closed down due to the highly contagious global pandemic.

KATA Chairman Mr Mohammed Wanyoike thanked the team of auditors for breaking down the intricacies to the agents, a move he said, will help prepare travel agents for the new business order.

Leave a Reply

Your email address will not be published. Required fields are marked *

Do NOT follow this link or you will be banned from the site!