Treasury gets Parliament’s backing to exempt KQ from minimum tax

Kenya Airways planes at Jomo Kenyatta Airport(JKIA), Nairobi.[Boniface Okendo,Standard]

Parliament has backed Treasury’s plans to exempt Kenya Airways (KQ) from paying minimum tax in a move that offers a reprieve to the loss-making firm.

The tax became effective January this year and firms are required to pay it or normal corporate tax, whichever is higher and whether making profit or loss.