Below is the summary of President Uhuru Kenyatta’s speech:
Presidential Brief on COVID-19-19
1. Treasury to offer the following reliefs;
– 100% tax relief for people earning upto 24000
– Reduction of PAYE to 25% from 30%
– Reduction of corporation tax from 30% to 25%
– Reduction of turnover rate from 3 to 1
– Appropriation of 10 Billion shillings for elderly, orphans and other vulnerable groups
Temporary suspension of listing of CRB- individuals/entities
- Treasury to reduce VAT from 16% to 14%
- Pending bills to be paid within three weeks
- KRA to expedite refund of all tax refund claims within 3wks
- Boost UHC – recruit more human resource to help curb/manage pandemic
- Pay cut for executive
– President & Deputy President 80%
– CS 30%
– CAS 30%
– PS 20% - All state and public officers with existing medical conditions in job group F and below to take leave…. exemption- security sector and those offering essential services
- Central Bank of Kenya
– Lowering of CBR to 7.2% from 8%
– Lowered CRR to 4.25% from 5.25%
– Provide flexibility to banks- loans classification
– Calendar of Cabinet/Committes reorganized- twice weekly. With primary focus on Covid-19
– Collaboration with County governments
- Effective Friday (27th March 2020) Curfew from 7pm to 5am
- KFS management, Coastguard to be vested on Kenya Police Service
