In the case of non-Kenyan citizens who are in Kenya solely to serve the employer, expenditure on passages between Kenya and any place outside Kenya borne by the employer.subsistence allowance on official duty (per diems) or mileage allowance are not considered taxable pay. Amounts that are mere reimbursement of expenses e.g.Meals provided by the employer up to a maximum of Ksh 4,000 per month or Kshs.Pension contribution paid by an employer to a registered or unregistered scheme in excess of the allowable amount of Kshs 20,000 or Kshs 240,00 per year.Pension contribution paid by a tax exempt employer to an unregistered scheme.Household utilities – including telephone, electricity, water, security, domestic expenses in excess of the allowable limit of Kshs 3,000 per month. ![]() Loans at interest rates that are lower than the prevailing market rate.Where an employee is provided with a motor vehicle by his employer i.e.Gains or profits from employment that are not paid in cash are chargeable to tax. PAYE is chargeable to persons of employment income of Kshs. Remit the tax deducted to the Kenya Revenue AuthorityĪs an employer you are required to deduct PAYE from your employees' salaries and wages at the prevailing rates and remit the same to KRA on or before the 9 th of the following month.Deduct tax from the employee(s) emoluments.Gains or Profits includes wages, casual wages, salary, leave pay, sick pay, payment in lieu of leave, fees, commission, bonus, gratuity, or subsistence, travelling, entertainment or other allowance received in respect of employment or services rendered.Īny person who makes pays emoluments to an employee(s) is required to register for the PAYE obligation, upon which the person is required to: Rather than pure subscriber growth, Iger said retaining “loyal” subscribers was becoming the new priority.PAYE is a method of collecting tax from individuals,both Resident and Non-resident, in gainful employment. Iger earlier this year reflected in an interview with CNBC that the company “got intoxicated by our own sub growth” after a fast start with Disney+. A flurry of new film and TV projects, introduced by Chapek at an investor day in late-2020, worsened the financial profile of the streaming division and reflected an all-out push to attract new subscribers. The company recently completed layoffs affecting about 7,000 employees, or roughly 3% of its global workforce, a key part of achieving $5.5 billion in cost savings.Īlthough Iger selected Bob Chapek as his CEO replacement in 2020, he wound up becoming critical of his successor’s approach to streaming. The period of streaming austerity comes as CEO Bob Iger, back since last November for a second tour as CEO, is steering the company through a significant belt-tightening effort. The company currently expects that any such charges and payments related to licensed content would be meaningfully less than the impairment charges related to produced content.” In addition, the filing goes on to say, “the company may terminate certain license agreements for the right to use content on its platforms, which would result in the removal of licensed content from its platforms and lead to impairment and/or contract termination charges as well as cash payments. ![]() About $400 million in further impairment charges will result, Disney projects. Disney said it expects more programming to be removed from direct-to-consumer and other platforms, largely during the rest of the company’s fiscal third quarter. A review of remaining streaming fare is continuing. The take-downs took effect on May 26, according to the filing. The charge, which will not be recorded in our segment results will primarily be recognized in the third quarter as we complete our review and remove the content.” ![]() “As a result, we will be removing certain content from our streaming platforms, and currently expect to take an impairment charge of approximately $1.5 to $1.8 billion. “We are in the process of reviewing the content on our services to align with the strategic changes in our approach to content curation,” CFO Christine McCarthy said on May quarterly call. Hulu, meanwhile, is sidelining Y: The Last Man, Dollface, The Hot Zone, Maggie, Pistol and Little Demon. Among the dozens of series removed from global streaming circulation on Disney+ are Willow, Big Shot, Turner & Hooch, The Mighty Ducks: Game Changers, Just Beyond, Diary of a Future President, The Mysterious Benedict Society and The World According to Jeff Goldblum. Amazon Alum Jeff Blackburn Joins Roku BoardĪlong with pulling individual film and TV titles offline, the company also plans to bring Hulu titles onto Disney+ by the end of the year.
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