Govt announces revenue collection policy guidelines

THE Government has announced several revenue collection policy guidelines as part of the 2020 National Budget strategy.
The policies target revenue collection to be implemented in 2020. They include enhancing land lease rental payment (by more than K80 million), increasing excise on social drinks, increasing alcohol and cigarette excise by 10 percent and restart indexation, increasing progressive duty rate on unprocessed log (K48.8 million), reducing excise on imported vehicles and tightening the thin capitalisation rule.
The Government will also review all banking licensing fees and additional profit tax on banks, review telecommunication licenses and universal access levy regime, passing legislation for revised Income Tax Act, and introduce the SME tax regime.