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Kenya's taxation system covers income tax, value-added tax, customs and excise duty.The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with the above taxes while also having the authority to undertake reviews on various companies and corporations.
As of 21 June, a value-added tax on electric bikes, buses, and solar and lithium-ion batteries. [5] The Associated Battery Manufacturers, a Nairobi-based group, has criticized this, stating that it would increase the cost of a solar battery in Kenya by $312 (45,000 Kenyan shillings). [5] As of 21 June, a 6% Significant Economic Presence tax. [5]
Proposals to introduce a 16% value-added tax on bread and a new annual tax on motor vehicles were removed from the legislation Tuesday after a meeting between Ruto and ruling party members.
In 2004, Kenya became the first country to exempt menstrual products from Value Added Tax. [87] In 2011, Kenya exempted imported menstrual products from excise tax. [88] In 2016, Kenya exempted the raw materials used for the manufacture of menstrual products from the 16% value added tax (VAT) and 25% excise tax. [89] [90]
NAIROBI (Reuters) -Kenya's government plans to cut 2024-25 spending by 1.9% and widen the fiscal deficit to 3.6% of GDP in a revised budget, the treasury said, weeks after it was forced to roll ...
The 2024 Finance Bill is the first in a series of tax reforms based on a Medium-Term Revenue Strategy (MTRS) devised and published by the Kenyan government in 2023 through the Ministry of National Treasury and Economic Planning. The MTRS aims to increase the tax-to-GDP ratio in Kenya from 13.5% to at least 20% from 2024 to 2027. [26]
Police opened fire on crowds who massed around parliament on Tuesday and later broke into parliament buildings, minutes after lawmakers had voted through tax hikes seeking to raise an additional ...
Value added tax or VAT, (in Italian Imposta sul valore aggiunto, or IVA) is a consumption tax charged at a standard rate of 22 percent, which came in on 1 July 2013 (previously 21 percent). The first reduced VAT rate (10 percent) applies to water supplies, passenger transport, admission to cultural and sports events, hotels, restaurants and ...