Revenue Authority pre-completed VAT returns mandate Dec 2024 Kenya’s Revenue Authority (KRA) has confirmed the start this month of pre-filled VAT returns covering November 2024 transactions. Draft transaction data from Kenya’s e-invoicing TIMS platform will be used to populate the first version of the return.
Kenya’s Treasury Secretary mulls 2% VAT cut to stimulate growth The Kenyan Treasury Cabinet Secretary has floated a 2% VAT rate cut from 16% to 14%. This would come with a Corporate Income Tax reduction from 30% to 25%. The tax cuts, the Secretary believes,
Kenya to fall into line with $250 billion OECD global tax reforms – unlocks US free trade deal Kenya has brought forward in the draft Tax Laws (Amendment) Bill 2024 plans to replace its existing 2021 1.5% Digital Services Tax (DST) as it withdraws its objections
VAT (Electronic, Internet, and Digital Marketplace Supply) simplified VAT registration; registration threshold removed The Revenue Authority updated the 2020 law on compliance VAT rules for providers and marketplaces of digital services. The regulations cover: Digital or electronic services new definitions as in scope for VAT
Jan 2024: non-residents required to register on Electronic Tax Invoice management system (TIMS) The Kenyan Revenue Authority KRA now requires any non-resident businesses to register on TIMS to generate e-invoices for supplies to domestic customers. This is a requirement even if the foreign business is
2023 budget to levy taxes on transfers of cryptocurrency and NFT’s plus online content creation The new 2023/24 Kenyan budget proposes two new digital taxes: 3% on the transfer of cryptocurrencies and Non-Fungible Tokens; and 15% on digital content monetization levying – content creators paid
B2B reverse charge option withdrawn for foreign providers of digital services The VAT Digital Marketplace Supply Regulations, which governs the rules for non-resident providers and marketplaces to charge Kenyan VAT, have been updated with a number of changes, including: Withdrawal of the reverse charge for
Foreign providers of electronic services given VAT registration threshold Kenya has introduced a VAT registration threshold for non-resident providers of digital services to Kenyan consumers. This is KES 5 million (approx €41,700) per annum of turnover. This is the same level as for resident business.
Kenya to fall into line with $250 billion OECD global tax reforms – unlocks US free trade deal Kenyan President, William Ruto, has confirmed that Kenya will end its 2021 1.5% Digital Services Tax (DST) as it withdraws its objections to the Pillar 2 OECD reforms
Kenya continues with its DST despite OECD agreement for 2023 global corporate tax reforms The latest Kenyan Finance Act has limited the application of the 1.5% Digital Services Tax (DST) to non-resident digital marketplaces. DST came into effect on 1 January 2021. This is in
