· To ease the liquidity crunch faced by agricultural producers hit by the Pandemic, the Kenya Revenue Authority (KRA) has refunded 70 percent of the tax claims.
· According to reports, Kenya’s flower orders at the Royal Flora Holland’s auction in the Netherlands has fallen by 20 percent
To ease the liquidity crunch faced by agricultural producers hit by the Pandemic, the Kenya Revenue Authority (KRA) has refunded 70 percent of the tax claims by flower export firms. The initiative is expected to boost the liquidity of the agricultural producers. Welcoming the government initiative, the Kenya Flower Council chief executive Clement Tulezi said its members had received Sh10 billion in tax refunds by the state.
According to reports, Kenya’s flower orders at the Royal Flora Holland’s auction in the Netherlands has fallen by 20 percent. The reason for the sharp decline is reportedly the change in priority to essential items such as food amid fresh lockdown due to resurgence in Covid-19 infections in European countries. Orders from the US, France, Germany and the UK have witnessed sharp declines “If flowers are not on shelves, buyers (retailers and supermarkets) are not placing orders until they are assured they will be able to sell,” Mr Tulezi told the Business Daily last week.
It may be recalled that President Uhuru Kenyatta announced an Sh10 billion tax refund for companies in March. The taxman announced that it had paid Sh21.4 billion value-added tax refund claims.
