Corporate entities also received a significant reprieve with the Committee’s rejection of the Bill’s proposal to have 60 per cent minimum deemed dividend distribution threshold on undistributed income.
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Clause 52 of the Bill proposed to expand KRA’s access to personal and proprietary information for purposes of tax compliance. However, the committee found the provision problematic after careful examination and extensive consultations.
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Deputy Governor Eng. John Barorot said that the Affordable Housing project is currently being implemented at Kidiwa and Pioneer and will soon be launched at Saroyot.
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