NAIROBI, Kenya, July 23 – The Retail Trade Association of Kenya (RETRAK) desires the Kenya Revenue Authority (KRA) to supply tax reduction for retailers who have been severely impacted by latest protests by younger Kenyans demanding good governance.
RETRAK is hopeful that KRA will come to their rescue, enabling them to get again onto their toes, as some had their properties destroyed and shares looted.
“We had a gathering with the CS of MITI final week, and we’re going to be having a follow-up assembly. We have particular (requests), particularly for these individuals who bought completely destroyed as a result of one KRA goes to return knocking, so can we get some reduction? And if we will’t get 100% reduction, can we get into an settlement to pause my funds in order that I might be able to rebuild after which come again and pay for you, particularly on this case the place I’ve seen quite a bit within the information about folks’s accounts being frozen?” RETRAK CEO Wambui Mbarire.
“We don’t need these retailers to get into that as a result of then you might have actually killed them. So, we hope that KRA will give us a listening ear, and hopefully we can discover a approach to preserve these individuals who actually are technically ranging from scratch once more to get some reduction that permits them to restart after which be capable of get again on board,” she added.
This month and final one, Kenyan companies have been severely disrupted by youth-led protests commemorating Saba Saba Day in addition to anti-Finance Bill 2024, leading to closures of retailers, workplace buildings, and industrial premises amid fears of looting. Consumer site visitors additionally dropped considerably, with prospects avoiding these areas for concern of being caught in violent confrontations between protesters and anti-riot police.
Consequently, retailers incurred Sh2 billion in losses, in line with RETRAK. Most of the losses have been by inventory losses and infrastructure destruction, with Kiambu retailers struggling probably the most. Unlike final 12 months, Kitengela retailers have been much less impacted.
However, enterprise actions have now resumed to normalcy throughout the nation, providing reprieve to 1000’s of companies that have been hit onerous.
