Introduction The Social Health Insurance Act, 2023 (SHIA) was assented on 19th October 2023 and was expected to come into effect on 22nd November 2023 but the implementation was halted due to a court petition. The High Court declared the Act unconstitutional but on 20th September 2024 the Court of Appeal stayed application of the High Court decision pending the … Read More
ANALYSIS OF THE FINANCE BILL, 2022
The Finance Bill, 2022 is in the National Assembly for discussion and approval, ahead of enactment by the President on or before 30 June 2022.
The Bill contains new revenue mobilization measures, for financing President Uhuru Kenyatta’s ultimate budget for FY 2022/23.
We provide in the attached circular, highlights of the Bill that have a direct bearing on your business in Kenya and may come to effect by 1 July 2022 and 1 January 2023.
Roll-Out of New Generation Excise Stamps by KRA
The Excise Duty (Excisable Goods Management System) Regulations, 2017 require that all packages of excisable goods, except motor vehicles, be affixed with excise stamps. The Kenya Revenue Authority (KRA) shall be rolling out a new generation of excise stamps for alcoholic beverages, tobacco and tobacco products, water, soft drinks and juices.
Inflation Adjustment on Specific Rates of Excise Duty
Highlights of the “Inflation Adjustment on Specific Rates of Excise Duty”, scheduled to take effect from 2nd November 2021 but halted by a High Court Order of 22nd November 2021.
The Finance Act, 2021
Highlights of the amendments to the Income Tax Act (ITA), Value Added Tax (VAT) Act, Excise Duty Act, Tax Procedures Act (TPA), the Miscellaneous Fees and Levies Act, 2016, Capital Markets Act, the Stamp Duty Act, Retirement Benefits Act and Insurance Act introduced by the Finance Act, 2021.
Highlights of the 2021/2022 Budget Statement
Brief highlights of the Economic Outlook, Sectoral Spending Priorities and Proposed Taxation Policy Measures as contained in the 2021/2022 Budget Statement as presented by the Cabinet Secretary for the National Treasury, Ukur Yatani.
Highlights of the Finance Bill, 2021
A summary of proposed amendments to the Income Tax Act, the Value Added Tax Act 2013 and the Tax Procedures Act 2015 that have a direct bearing on your business in Kenya and may come into effect by 1st July 2021.
Notable Tax and Regulatory Changes Taking Effect in Kenya in 2021
A summary and analysis of the changes introduced by the Tax Laws Amendment (No. 2) Act, 2020 and a recap of other notable tax and regulatory changes that became effective on 1st January 2021, that have direct effect on your business in Kenya.
