Alex Kanyi

[NTV Kenya @ntvkenya]

Next on @ntvkenya's #BusinessRedefined, a stock take of the underlying issue that informed Finance Act 2025:

1. Is this the end of Kenya leaning on direct taxes to ramp up domestic revenue mobilisation?
2. Is the future of Kenya's tax policy reform going to be dominated by indirect taxes & clean ups in exemptions?
3. What are we seeing in other jurisdictions & what lessons can we draw from there?

I sit down with @alexmkanyi for a deep dive into this & a lot more.

July 29th, 7:30pm

[Julians Amboko @AmbokoJH]

Next on @ntvkenya's #BusinessRedefined, a stock take of the underlying issue that informed Finance Act 2025:

1. Is this the end of Kenya leaning on direct taxes to ramp up domestic revenue mobilisation?
2. Is the future of Kenya's tax policy reform going to be dominated by indirect taxes & clean ups in exemptions?
3. What are we seeing in other jurisdictions & what lessons can we draw from there?

I sit down with @alexmkanyi for a deep dive into this & a lot more.

July 29th, 7:30pm

[NAssembly KE C'tees @NACommitteeKE]

Regarding change in VAT status of locally assembled motor vehicles for transportation of tourists,EAVCA recommends retaining the exempt status of these supplies,arguing that changing it to standard rate would increase costs for tourism operators and reverse the sector's recovery

[NAssembly KE C'tees @NACommitteeKE]

They believe this move could stifle economic growth and job creation in less developed regions, entrenching regional disparities.

[NAssembly KE C'tees @NACommitteeKE]

They argue this discourages private capital inflow into SEZ-linked developments and introduces potential retroactive consequences for investors.

[NAssembly KE C'tees @NACommitteeKE]

While seeking a clarification on exemption of Special Economic Zone (SEZ) entities from capital gains tax, EAVCA recommends deletion of the proposal to restrict Capital Gains Tax (CGT) exemption solely to licensed entities within an SEZ.

[NAssembly KE C'tees @NACommitteeKE]

They are concerned that removing the threshold increases compliance burden for smaller entities and may create disincentives for market entry.

[NAssembly KE C'tees @NACommitteeKE]

Alternatively, they suggest reintroducing a turnover threshold with progressive rates and allowing early-stage fintechs and e-commerce players a two-year tax exemption sandbox.

[NAssembly KE C'tees @NACommitteeKE]

Regarding the proposal to widen Scope of Significant Economic Presence Tax (SEPT), EAVCA has welcomed it but proposed that it includes services offered via internet/electronic networks but recommends maintaining the KES 5 million turnover threshold for non-residents.

[NAssembly KE C'tees @NACommitteeKE]

and cross-border funds, and evolving the NIFC platform into a digital, investor-friendly gateway. They argue that the current restrictions and narrow application of incentives might exclude high-potential startups and overlook early-stage and growth companies outside the NIFC.

[NAssembly KE C'tees @NACommitteeKE]

EAVCA welcomes the proposed incentives for the Nairobi International Financial Centre (NIFC) but suggests broadening tax relief access, formalizing support for blended finance structures with targeted tax incentives,clarifying regulatory issues for Special Purpose Vehicles (SPVs)

[NAssembly KE C'tees @NACommitteeKE]

Currently before the Departmental Committee on Finance and National Planning is East Africa Venture Capital Association (EAVCA) who have also submitted a memorandum on the #FinanceBill2025, highlighting several key proposals and concerns.

[French Chamber Kenya @frkenya_chamber]

Yesterday’s Legal Hot desk was a success 🤝, with @CDHLegal ’s top experts guiding businesses through key legal concerns ⚖️. Attendees got personalized advice on; employment law reforms, tax & immigration obligations, labor law compliance and corporate governance 💼
#LegalDesk

[Kenya Revenue Authority @KRACorporate]

📢 Public Notice: Tax Amnesty is back!

Important to note:

1. The program runs from 27th December 2024 to 30th June 2025.

2. Tax Amnesty will be applicable on interest and penalties for tax periods up to 31st December 2023

3. Automatic waiver will apply to taxpayers who’ve cleared their principal taxes.

4. Taxpayers who have not paid their principal tax and cannot make a one-off payment, can apply for amnesty and propose a payment plan to be paid by 30th June 2025.

For further guidance:
Visit the nearest TSO or contact us via
📞 Tel: [phone] | 254(0711) 099999
📧 Email: [email protected]

#KRATaxAmnesty

[Alex Kanyi @alexmkanyi]

@AmbokoJH Was the new section exempting public officers from tax on reimbursements passed through CS?

[Alex Kanyi @alexmkanyi]

@AmbokoJH I think the drift to Withholding tax under the Income Tax Act and the Court's decision was wrong. MPs were dealing with VAT under the VAT Act. The VAT Act is clear on when VAT is due. However, it is to the disadvantage of those who supply to a public entity but don't get paid.

[Julians Amboko @AmbokoJH]

Day 2 of Phase 2 of public participation on the Tax Laws (Amendment) Bill 2024 & Tax Procedures (Amendment) Bill 2024 took place yesterday.

Here's a summary of some of the key issues that emerged during yesterday's submissions.

A quick 🧵

[NAssembly KE C'tees @NACommitteeKE]

The Law Society of Kenya Tax Committee is currently making oral submissions on the Tax Laws (Amendment) Bill, 2024 and the Tax Procedures (Amendment) Bill, 2024.

[Julians Amboko @AmbokoJH]

Some answers from the Social Health Authority:

1. It looks like the Authority has followed the Affordable Housing Levy approach, non-recurring expenses are not part of gross income when determining the 2.75%. Sigh!
2. Sec31 of the Income Tax Act on 15.0% Insurance Relief does apply to deductions made towards SHIF. The authority is, however, advising that contributors seek concurrence from KRA on this

[Judicial Service Commission Kenya (JSC) @jsckenya]

JSC Statement on the intimidation and withdrawal of the security detail of Hon. Justice Lawrence Mugambi, Judge of the High Court of Kenya.