Savings and credit co-operative societies (saccos) with corporate or group members are seeking a change in law to cushion them from higher taxation by the Kenya Revenue Authority (KRA) amid rising liquidity pressure.
In submissions to the Treasury, the Kenya Union of Savings and Credit Co-operatives (Kuscco) argues that many of the saccos that have onboarded group members are exposed to heavier taxation, straining their liquidity and hurting their ability to lend at affordable rates.
