Small traders hit with new taxes this month

Small businesses that make sales of less than Sh5 million annually will be slapped with a turnover tax of three per cent on their revenues, as the Government moves to make everyone tax-compliant.

Small businesses will be subjected to a double-edged sword starting this month, as a myriad tax measures take effect.

Coming from a tough year in which most micro, small and medium-sized enterprises (MSMEs) have grappled with cash flow problems, some of the small businesses will see their January blues get worse.