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This month's Newsletter from the Tax Desk at Mbaya & Associates in Nairobi focuses on the measures the government intends to make to cushion the country against the economic effects of COVID-19, and also takes a look at what constitutes VAT Fraud.
On 23 April 2020 the Small Business Administration (SBA) provided new guidance on qualifications for Payroll Protection Program (PPP) loans in the form of a Frequently Asked Question (FAZ). This was an attempt by the SBA to define how borrowers should consider financial need when certifying, in good faith, that their PPP loan request is necessary. The following question and answer was published by the SBA in FAQ #31.
On 14 April the Small Business Administration released another Interim Final Rule related to the Payroll Protection Program. Find out more.
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