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Kenya Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
48,397,527 (July 2018 est.)GDP (PPP)
$163.7 billion (2017 est.)The economic, financial, and transport hub of East Africa. Despite this, it is still a developing country in which agriculture is still the most important activity: About 75% of Kenya’s population work at least part-time in the agricultural sector
GDP growth rate
4.9% (2017 est.)High and stable
GDP (PPP) per capita
$3,500 (2017 est.)Very low. High income inequality
Local currency
Kenyan shilling (KES)Weak currency, nevertheless it has been quite stable in the past 5 years
Financial stability (Public debt)
54.2% (2017 est.)Low, however it slightly increased in the last years
Inflation
8.0% (2017 est.)High and unstable
Language
English and Kiswahili both officialEnglish is spoken especially in urban and touristic areas
Corruption perception index (Source: Transparency International)
Rank 144/180Very high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
16% for local taxable supplies, 8% on local supply of fuel (effective September 2018)0% for zero-rated supplies and exports, exempt supplies, and supplies that are out of VAT scope
Corporate Tax
30% standard corporate tax rate for resident companies37.5% standard corporate tax rate for foreign companies. Reduced rates are applicable in some cases
Duties
Customs duty rates on imported goods range from 0% to 25%
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