Safaricom maintains top tax payer position

BUSINESS

|
Image: By BiztechAfrica
Safaricom maintains top tax payer position

By Semaj Itosni, Nairobi, Kenya

Safaricom has shrugged off the 2011/12 price wars to retain its position as Kenya’s top taxpayer for the fifth consecutive year.

Despite a Sh1 billion drop in pre-tax profit from Sh18.4 billion in 2010/11 to Sh17.4 billion in the last financial year, Safaricom still beat other blue chips and public sector institutions.

The company’s annual report shows that it paid Sh4.7 billion directly in income tax —lower than last year’s Sh5.2 billion.

However, most of the money it remits to government is in the form of excise duty, VAT, and withholding taxes which stood at Sh25 billion in the 2009/10 financial year.

“Indeed, the tax paid by the top ten taxpayers being appreciated today was about Sh115 billion, which is 17% of the total tax collected in the last financial year,” President Kibaki said when he presided over the ceremony to honour top tax payers.



Share the News

Get Daily Newsletter

Search News

comments powered by Disqus

MORE BUSINESS NEWS

Business incubator to boost 200 Zimbabwean entrepreneurs

Agnes Chikukwa-Hove, CEO of KBA Africa 200 would-be Zimbabwean entrepreneurs are set to benefit from business training and support, thanks to a business development programme to be launched by business incubation specialist KBA Africa.   Read More

Union gives Globacom 14 days to reinstate 54 sacked workers

The Private Telecoms & Communications Senior Staff Association of Nigeria (PTECSSAN) has urged Globacom to reinstate the workers it allegedly sacked from its service. Read More

British envoy promises more investors at Rack Centre

Mr Paul Arkwright, British High Commissioner to Nigeria, has promised to do his utmost to encourage more British companies to do business with their Nigerian Counterparts. Read More

UBA, Mastercard in pan-African partnership

UBA and Mastercard have announced a five year deal across 19 markets focused on driving financial inclusion in Africa. Read More

MTN Business partners with the National Gazelles to boost SMEs market

MTN Business today announced a new drive to help support the growth of small and medium enterprises (SMEs) and contribute to creating sustainable entities.  Read More

Travelport appoints new Managing Director for Africa

Travelport has announced the appointment of Douglas Jewson as Travelport’s Managing Director for Africa. Read More

Brexit’s impact on Africa

The short-term implications of Brexit for African economies will be mainly noticeable through market volatility, say Control Risks and NKC African Economics. Read More

Safaricom Blaze to take 2nd youth empowerment summit to Thika

Safaricom will this Friday, 8th July 2016, host the 2nd in a series of youth empowerment summits under its recently launched sub-brand, BLAZE. Read More

Kris Senanu to lead Telkom Kenya Enterprise Division

Telkom Kenya has announced the appointment of Mr. Kris Senanu as the MD of its Enterprise Division. Read More

Liquid Telecom, RBH to acquire Neotel

 Nic Rudnick of Liquid Telecom, Troy Reynolds of Tata Communications and Strive Masiyiwa of Econet Wireless Global  Liquid Telecom, a privately owned pan-African telecoms group majority owned by Econet Global, has entered into an agreement to acquire South African communications network operator Neotel.  Read More

PRESS OFFICES

Sage EnterpriseSAP AfricaTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4AfrikaNetworks UnlimitedArbor NetworksEricssonTigo Ghana

FEATURED STORY

First-ever Africa Barclays Accelerator programme concludesFirst-ever Africa Barclays Accelerator programme concludes

Ten fintech companies have concluded the first-ever Barclays Accelerator, powered by Techstars in Africa.

 

Advertisement

IN DEPTH

Ethical Hacking students can’t get a heck of a jobEthical Hacking students can’t get a heck of a job

Botswana ethical hacking students report that they are failing to break into the local job market.