Joseph Miller

Culturally challenged...

[Joseph Miller @Mugais]

🤔

[ONJOLO KENYA🇰🇪 @onjolo_kenya]

UPDATE: Finance Bill 2026 has been introduced, bringing notable changes across multiple tax areas.

Some of the proposed updates include:

Tax Filing Deadline: The deadline for filing tax returns is set to be reduced from the last day of the sixth month to the last day of the fourth month after the end of a person’s year of income. This means individuals and companies with a December year end will now file by 30 April.

Mitumba Traders: Importers of second hand clothing will be required to pay income tax based on a deemed profit of five percent of the customs value. This tax must be settled before the goods are released at importation.

CGT: It is proposed that any sale of shares by a non resident that derive value from Kenya or result in a change of control of a Kenyan company will be subject to tax. This will capture offshore share transactions where there is a link to a Kenyan entity.

Taxation of Trust Income: Income received by a trustee, executor, or administrator will be treated as the income of that trustee. Once the trustee has paid tax on the trust’s chargeable income, beneficiaries will not be required to pay additional tax on the same income, simplifying trust taxation.

VAT Exemptions: Items such as mobile phones, electric motorcycles, electric bicycles, solar batteries, electric buses, and battery electric cooking stoves are proposed to be exempt from VAT. However, any input VAT previously claimed on unsold exempt stock will need to be reversed.

Virtual Assets: Providers of virtual asset services will be required to submit annual returns containing user information. Kenya may also engage in cross border data sharing agreements on cryptocurrency transactions, signaling a move toward full regulation and taxation of digital assets.

Tax Amnesty: A tax amnesty is proposed for penalties and interest on liabilities incurred up to 31 December 2025, provided that the principal tax is paid by 31 December 2026.

VAT Record Keeping and Refund Period: The period for maintaining VAT records and claiming refunds is proposed to increase from two years to three years.

EAC Goods Not Treated as Imports: Goods originating from East African Community partner states that meet the rules of origin will not be treated as imports for purposes of excise duty.

Interchange Fees: Interchange and merchant service fees arising from card transactions are proposed to be explicitly classified as management or professional fees, making them subject to withholding tax. This follows previous litigation where the tax authority did not succeed, and represents an effort to clearly bring these fees within the taxable category.

[Joseph Miller @Mugais]

Holiday starts... Now! Kaende sana!

[RoboRocks @malagojr]

If you have VLC, you don't need Amazon Firestick.
You can watch Premier League with your VLC for £0.00

[ Open thread ]

[Joseph Miller @Mugais]

@bosibori_Ke @Mugais

[Joseph Miller @Mugais]

@J_Ladiva @Mugais

[Chris Kirubi (Tribute Page) @CKirubi]

Learn to practise patience in all that you do. Have the self-control to delay gratification or wait for results. Good things come to those who wait and most times, the wait is worthwhile. Learn to take your time and have the discipline to wait for the right time. #AskKirubi

[Joseph Miller @Mugais]

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[Joseph Miller @Mugais]

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[Joseph Miller @Mugais]

Content creation.

[Joseph Miller @Mugais]

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[Joseph Miller @Mugais]

What to do. https://t.co/nIrVp5wDoh

[Joseph Miller @Mugais]

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[Joseph Miller @Mugais]

Courses... https://t.co/t4k0dsLGrL

[Joseph Miller @Mugais]

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