Summary of President Uhuru Kenyatta’s Speech,25/3/2020

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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

  1. Treasury to reduce VAT from 16% to 14%
  2. Pending bills to be paid within three weeks
  3. KRA to expedite refund of all tax refund claims within 3wks
  4. Boost UHC – recruit more human resource to help curb/manage pandemic
  5. Pay cut for executive
    – President & Deputy President 80%
    – CS 30%
    – CAS 30%
    – PS 20%
  6. 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
  7. 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

  1. Effective Friday (27th March 2020) Curfew from 7pm to 5am
  2. KFS management, Coastguard to be vested on Kenya Police Service

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