Finance Ministry calls for employee PAYE refunds after tax changes

The Ministry of Finance and Public Enterprises has instructed employers to reimburse employees once the new statutory tax rates are gazetted, according to a media release issued on Saturday. The Ministry’s spokesperson, Wilson Shikoto, explains.

Cirrus Capital economist Robert McGregor said that the amendment will provide consumers with additional relief over and above the 25 basis points repo rate reduction seen last month. 

Meanwhile, business owner Stefan Hugo explains the impact it has on companies.