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Stay updated with the latest Income Tax regulations for charitable organizations in Kenya. The new Income Tax (Donations and Charitable Organizations Exemptions) Regulations, 2024, provide comprehensive guidelines for applying for tax exemptions from the Kenya Revenue Authority (KRA). Learn about the criteria for recognition, application procedures, and the transition period for compliance by June 18, 2025. Ensure your organization meets the new requirements and benefits from tax exemptions.

On 20th May 2024 KRA informed the public on its intention to conduct a public participation to obtain views on the Free on Board (FOB) values for used motor vehicles before implementation of a new motor vehicle valuation database by 31st August 2024.

On 31st July 2024 the Court of Appeal (CoA) rendered a judgement in the CIVIL APPEAL NO. E003 OF 2023 declaring the Finance Act 2023 unconstitutional.

The Finance Bill, 2024(“The Bill”), was tabled to the National Assembly on 13 May 2024 for the first reading. The proposals in the Bill are likely to have a significant impact on stakeholders if implemented as it is.

The Tax Appeal Tribunal has delivered a decision that marks a significant victory for taxpayers facing adjustments to their transfer pricing methodologies by the Commissioner of Domestic Taxes.

President. William Ruto on 19th March 2024 assented to the Affordable Housing Bill 2023 into law. Pursuantly, Sections 4 and 5 of the Affordable Housing Act, 2024 relating to imposition of the levy and deductions by employers, become effective on the date of assent, the rest of the sections of the Act will become operational via a notice in the Gazette.

The Supreme Court of Kenya, on 21st February 2024 overturned the decision of the Court of Appeal that had declared that the NSSF Act 2013 was constitutional.

Tax Appeals Tribunal (TAT) rendered judgement in the case of M-Kopa LLCC/O M-Kopa Kenya Limited versus Commissioner of Domestic Taxes about the determination of the place of effective management (POEM) for taxation purposes.

Transfer Pricing Update

In this alert GT is sharing key highlights of the changes adopted from the proposed Finance Bill 2023 affecting different tax streams highlighted above.

In this issue, we review the key tax measures that have taken place in selected African countries from 2022 to date.

The Income Tax Company Return, should be submitted to the Kenya Revenue Authority on or before the 6 month after the end of the reporting period.

The prospects and potentiality of the United Kingdom (UK)- Kenya trade deals were eventually formalized into an Economic Partnership Agreement (EPA) that was signed by both parties on 8 December 2020.

The President directed the National Treasury to relook at the tax reliefs enacted earlier this year in a bid to cushion the public from the adverse effects of COVID-19.

What is the Voluntary Tax Disclosure Programme (VDP)? VDP is a programme introduced by the government to allow tax payers to disclose tax liabilities accrued within a period of five years prior to 1st July 2020 in confidence. In return taxpayers will be granted relief for penalties and interest.

VAT on the digital marketplace was introduced by the Finance Act 2019, which amended the Value Added Tax Act No. 35 of 2013