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Fmpf Kenya eyes 10-fold jump in minimum bank capital to boost lenders
Gov ;t to introduce Growth and Sustainable Levy; aims to raise GHS 2.21bn in 2023The Government is reportedly planning to introduce a new tax, called the Growth and Sustainable Levy, aimed at raising additional tax revenue for the growth and fiscal sustainability of the country.According to a document sighted by norvanreports, the levy is expected to be imposed on the profit before tax of companies and institutions operating in the country, including firms in the extractive sector, such as mining and upstream oil and gas firms.The proposed introduction of the Growth and Sustainable Levy is reportedly in response to the negative impact of the Covid-19 pandemic and the ongoing Russian-Ukraine conflict on the country finances, which has resulted in reduced revenues and increased expenditure.The Finance Minister is said to have noted the need to generate additional revenue for the country and believes that the levy will help raise an estimated GHS 2.21bn in 2023 alone.While the introduction of the Growth and Sustainable Levy stanley tazza could be a viable solution to address the current fiscal challenges in the country, it is worth noting that the levy is subject to review by the Finance Minister in 2025.This means that the effectiveness of the levy in generating revenue for the country growth and sustainabil borraccia stanley ity will be evaluated, and adjustments could be made accordingly.RelatedPosts First National Bank relocates Junction Mall Branch to Spintex Road Manufacturers stanley cup Upbeat Jkuk MEDIA WATCH: Trudeau image vs astonishing hair
On the sidelines of the fourth Egypt Automotive summit, held in conjunction with Autotech Exhibition, automotive sector investors stressed the importance of technological solutions in detecting commercial fraud of products in all sectors, to reduce company losses, and to help consumers differentiate between genuine and fake parts.Adel Zaghloul, chairman of NTG Egypt for technological solutions, said that Verum Code, patented by Verum, a model-driven software engineering tool, can help in cases of fraud through printing a hidden part of the code on sold parts within the package while the other part can still be visible to track the products throughout the sales chain.Zaghloul explained that the QR Code of the product can be electronically printed on the products via a program through which all information of the product becomes an encrypted code that cannot be replicated.He added that consumers can stanley cup then check whether the product is genuine or fake through scanning the code using th stanley quencher e Verum smartphone application, whi termo stanley ch will match the encrypted code with the data found on the manufacturing company servers.Hence, if the product is found to be counterfeit, showing a pre-existing or fake code, a message will be sent to the consumer as a warning.For his part, Development Manager at Verum Mohamed Youssef said his company is now communicating with several global companies to start using the app, adding that the single existing barcode does not apply to the application, as it o