Business, Diaspora

KRA widens its tax bracket to Kenyans in Netherlands, Czech republic

Ambassador Lawrence Lenayapa receives Kenyan MPs from the ICT Committee who were in the Netherlands for the annual International Broadcasting Conference in September 2018/ EMBASSY

KRA is reaching out to Kenya’s diaspora in the Netherlands and Czech republic.

This emerged after Ambassador Lawrence Lenayapa hosted a virtual meeting with the Kenyan diaspora in the Netherlands, Czech and the representatives from Cooperative Bank and and Kenya Revenue Authority.

The embassy said the meeting was to “discuss investment opportunities available in Kenya and an outreach session on KRA services”.

“ In a virtual meeting hosted by the Kenya Embassy, H.E. Ambassador Lawrence Lenayapa committed to continued engagement with the Kenyans living in the Netherlands and the Czech Republic to discuss issues pertinent to the diaspora,” the embassy said.

Earlier in March, the embassy had organized a survey for the diaspora with the Central Bank of Kenya in collaboration with Kenya National Bureau of Statistics and the Ministry of Foreign Affairs.

The survey sought to establish the challenges the diaspora face in remitting their funds, the efficiency and cost effectiveness of alternative channels of remittance and usage of remittance received.

“ The study results will be important in guiding policy intervention to address bottlenecks and challenges facing Kenyans in diaspora during remittance process,” the embassy said in the notice.

According to the Central Bank, remittance inflows into Kenya jumped by nearly 11 per cent in 2020 to $3.09 billion as technological innovations helped people overcome the economic struggles brought on by the Covid-19 pandemic to send more money home.

It said remittances reached a historical peak of $299 million in the month of December 2020 alone.

“This remarkable growth of remittances has been supported by financial innovations that provided Kenyans in the diaspora more convenient channels for their transactions,” CBK said.

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