KPMG to upgrade skills of public accountants

KPMG East Africa chief executive Josphat Mwaura. file photo | nmg 

By JAMES NGUNJIRI

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Summary

• KPMG will offer certification in International Public Sector Accounting Standards (IPSAS) upon successful completion of the course.
• The promoters said the training is aimed at rescuing the public financial management, both at the national and county levels

Tough innovation challenge for traditional TV

A man watching TV. Media organisations need to make a decisive shift so as to succeed. file photo | nmg 

By TIMOTHY ORIEDO

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Summary

• Media organisations are under pressure to reinvent from all angles — investors, competition, customers, and technology.

Make VAT law for free promotional items

Shoppers at a Nakumatt outlet. file photo | nmg 

By JOSEPH THOGO

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Summary

• Under the previous regulations, where taxable goods with a value of less than Sh200 were distributed as free samples to fewer than 30 persons in any given month in furtherance of a business, then such goods would not be liable to VAT.
• Unfortunately there are no similar provisions in both the main VAT Act and the new regulations, which potentially means that such taxable goods (and services) when distributed as free samples will be subject to VAT.

EDITORIAL: Use more structured way of determining wages

Workers follow the proceedings of a COTU meeting. The minimum wage has been raised by 18 per cent. PHOTO | DENNIS ONSONGO | NMG 

By EDITORIAL

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Summary

• The 18 per cent raise announced on Monday also implies growth in real wages, having beaten average inflation rates of the past two years. 

Sh3.6bn patrol ship to guard Kenya fishing waters

Agriculture secretary Willy Bett (centre) with Fisheries PS Micheni Ntiba (right) and James Njiru, the KEMFRI director this month. photo | kevin odit 

By WINNIE ATIENO

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Summary

• Agriculture Cabinet Secretary Willy Bett said the vessel will enable Kenya to deal with unlawful exploitation of its special economic zone within the water resource.

EPZ firms’ local sales quota raised to 40pc

Shoppers at an EPZ clothing sale. FILE PHOTO | NMG 

By LYNET IGADWAH

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Summary

• Apparel manufacturers operating from the export processing zones (EPZs) will now be allowed to sell up to 40 per cent of their goods locally, a significant improvement over their current local market quota.
• The advent of cheap second-hand clothes, locally known as mitumba, in the mid-1980s helped speed up the decline of the country’s nascent textile industry and killed production of raw materials like cotton.

Problems are the wake up calls for creativity

Do not limit yourself to few options. FOTOSEARCH  

By SRIRAM BHARATAM

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Summary

• The moneylender fancied the farmer’s daughter, he decided to offer the farmer a deal that would wipe out the debt he owed him, if only he could marry the farmer’s daughter.
• All the villagers opposed this as they felt sorry for the young girl.
• She drew out a pebble from the bag, and before looking at it ‘accidentally’ dropped it into the midst of the other pebbles