July 7th, 2021
Finance Act 2021 Highlights
To read the full document click here https://ke.andersen.com/wp-content/uploads/2021/07/Finance-Act-2021-Andersen-Highlights-002-New.pdf
November 17th, 2021
IS KRA ALTERNATIVE DISPUTE RESOLUTION A VIABLE OPTION FOR YOU?
The Alternative Dispute Resolution (ADR) framework was launched by KRA in June 2015 with a promise to restore transparency and efficiency in tax audit and investigations. This followed the passing of the Tax Procedures Act, No 29 of 2015 (TPA), which provides for an elaborate Internal Dispute Resolution Mechanism (IDRM). This article explores the extent to [...]
June 23rd, 2020
VAT on commercial property
It has definitely not been business as usual for the Kenya Revenue Authority following a recent decision by the High Court relating to Value Added Tax on commercial buildings.
November 24th, 2021
Specific versus Ad Valorem Taxation: Effect of Inflationary Adjustments on Taxation
Excise Duty is a duty charged on specific goods and services manufactured locally or imported on varying rates. Excise taxes can be either specific or ad valorem. Specific excise taxes are charged per quantity, such as per cigarette, pack, or kilogram for example Ksh 12 per pack regardless of price. Ad valorem excise taxes are [...]
November 26th, 2021
Kenya’s Voluntary Tax Disclosure Programme- Is it all bark and no bite?
On 26th February 2021, the KRA Commissioner Domestic Taxes Risper Simiyu officially launched the Voluntary Tax Disclosure Programme (VTDP) brought into law by the Finance Act 2020. The programme came into effect on 1st January 2021 and will run for a period of 3 years up to 31st December 2023. It is intended to expand [...]
December 1st, 2021
Export of Services in Kenya: Case Breakdown
Paragraph 32, Part II of the First Schedule of the VAT Act, 2013 provides that exportation of taxable services are exempt. This means that companies exporting services are not be able to claim input VAT incurred in the supply of exported services. Paragraph 32 was introduced in the Finance Act 2021 at a time where [...]
December 3rd, 2021
ILLICIT FINANCIAL FLOWS
Introduction Digitalization has posed a huge threat to the global financial systems. From the growing use of electronic ‘cash’ including crypto currencies and e-commerce to the internationalization of supply chains, the explosion of peer-to-peer (P2P) networks, the disclosure of massive amounts of personal information through social networks, the increasing use of ‘deep learning’ methods in [...]
January 13th, 2022
Country by Country Reporting in Kenya
The Finance act 2021 introduced a requirement for Ultimate Parent Entities (UPE) of multinational companies (MNE) resident in Kenya to submit returns, on an annual basis detailing the group’s financial activities in Kenya and all other jurisdictions where any of the group entities have a taxable presence. Following this development the Cabinet Secretary has published [...]
April 21st, 2022
Finance Bill 2022
To read click here https://ke.andersen.com/wp-content/uploads/2022/04/Finance-Bill-2022-Analysis-New-.pdf
April 22nd, 2022
Finance Bill 2022.
Click here to read https://ke.andersen.com/wp-content/uploads/2022/04/Finance-Bill-2022-Analysis.pdf