The Standard Group Plc is a multi-media organization with investments in media
platforms spanning newspaper print operations, television, radio broadcasting,
digital and online services. The Standard Group is recognized as a leading
multi-media house in Kenya with a key influence in matters of national and
international interest.
According to the Bill, artistes will get an additional benefit of 9 per cent excise tax benefit. At the same time,16 per cent will go to the telecommunication companies, another 7 per cent to PRSP while 16 per cent will be Value Added Tax.
The new formula implies that for Sh1.50 payment per day for Skiza tune, the artistes will pocket Sh0.92 being a sum of Sh0.78 being 52 per cent artist share and Sh0.14 being 9 per cent of the exercise benefit to the artist.
PRSP will retain Sh0.10, Sh0.24 being 16 per cent telco share, and the taxman will take home Sh0.24 being 16 per cent VAT.
Of the annual gross revenue of Sh7.58 billion from Skiza tune, artistes will retain Sh4.63 billion.
Safaricom recently changed the Skiza tune charges from Sh1 per day to Sh1.50. Further, the government issued a 10 per cent excise tax exemption to Skiza. The artistes’ share went up. The PRSP share remained the same.
According to the Bill, artistes will get an additional benefit of 9 per cent excise tax benefit.
At the same time,16 per cent will go to the telecommunication companies, another 7 per cent to PRSP while 16 per cent will be Value Added Tax.
The new formula implies that for Sh1.50 payment per day for Skiza tune, the artistes will pocket Sh0.92 being a sum of Sh0.78 being 52 per cent artist share and Sh0.14 being 9 per cent of the exercise benefit to the artist.
PRSP will retain Sh0.10, Sh0.24 being 16 per cent telco share, and the taxman will take home Sh0.24 being 16 per cent VAT.
Of the annual gross revenue of Sh7.58 billion from Skiza tune, artistes will retain Sh4.63 billion.
Safaricom recently changed the Skiza tune charges from Sh1 per day to Sh1.50. Further, the government issued a 10 per cent excise tax exemption to Skiza. The artistes’ share went up. The PRSP share remained the same.