Kenya assented into law the Tax Procedures (Amendment) Bill, 2024 on 11 December 2024 and the bill became effective on 27 December 2024. The resulting Tax Procedures (Amendment) Act, 2024 (the Act) extended the
The Bill proposes various changes to the Income Tax Act (ITA), the VAT Act, 2013 (VAT Act), Excise Duty Act, Tax Procedures Act, 2015 (TPA), and the Miscellaneous Fees and Levies Act among other non-tax statutes. All the proposed changes will be effective 1 July 2024 unless stated...
Kenya has recently attained key milestones in relation to its efforts to join the global move towards enhancing tax transparency. Through the Finance Act 2021, the Tax Procedures Act 2015 was amended to introduce the CRS regime in Kenya with effect from July 1, 2021. The regime brought int...
The provision appears to be aimed at encouraging retention of intellectual property in Kenya. However, the Act does not specify the preferential tax rate that would apply to the qualifying intellectual property income. Effective date: 1 January 2024 Indirect transfers of interest in licensee or contr...
This research paper seeks to explore the effect of devolution of government on the tax law regime in Kenya and particularly at the manner in which the power to raise revenue by way of taxes is to be exercised as between the governments upon devolution in 2013....
We provide a wealth of publications by PwC Kenya providing informed commentary on current developments in the tax arena. Through analysis and comment on new law and judicial decisions of interest, they assist business executives to identify developments and trends in tax law and revenue practice that...
A paramedic in Kenya's capital told the Reuters news agency that at least 10 people were fatally shot as police opened fire on protesters furious over proposed tax increases. Jun 25, 2024 Supreme Court upholds Trump-era tax law The Supreme Court upheld a Trump-era tax on foreign earnings ...
The Sejm passed amendments to the tax code and excise duty law. February 25, 2025 News Chile: Updated procedures for transfer pricing adjustments; other direct and indirect tax developments A report summarizing recent direct and indirect tax developments February 21, 2025 News Colombia: Temporary...
The protocol will enter into force once the ratification procedures are completed in Mauritius. September 27, 2024 News Mauritius: Renewed tax amnesty scheme under Finance Act 2024 Income tax, VAT, and gambling tax September 27, 2024 News Rev. Rul. 2024-22: Bourse de Montreal held “quali...
Businesses and individuals seeking the waivers must meet the requirements in line with the Tax Procedures Act of 2015 that gives KRA’s Commissioner of Domestic Taxes power to waive penalties and interest. Under the law, individuals and businesses must provide proof of financ...