Taxation

The Kenyan Finance Act No. 4 of 2023 amended the Kenyan Tax Procedures Act, 2015 by among others introducing Section 37E.  The new Section 37E will become effective from tomorrow, 1st September 2023. 1. Where all principal tax due had been paid by 31st December 2022:Subsection 37E(1) states that, “Notwithstanding any other provision of this Act, the Commissioner shall

Per Section 2, Interpretations, of the Kenyan Income Tax Act, Cap 470, resident in relation to a body of persons means that: Let us focus on, management and control, KRA is now reviewing foreign incorporated companies managed and controlled by Kenyans in Kenya for assessment of corporation tax. Case in point is Naivas Kenya Limited. Naivas Kenya Limited is owned

Kenya Revenue Authority (KRA) has backdated the salary deductions and tax collection effective dates to 1st July 2023. This follows the Court of Appeal order of 28th July 2023 suspending the High Court order of 10th July 2023 that had stopped implementation of the Finance Act No. 4 of 2023. Some of the provisions affecting

Income Tax Act, Cap 470 The Finance Act, 2023 (herein after referred to the “Act”) has made the following changes to the Income Tax, Cap 470: Section 2 (Definitions Section) has been updated by expanding the definition of “winnings” – means the pay-out from a betting, gaming, lottery, prize competition, gambling or similar transaction under