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Legal Alert | Where to Now for the Tax Amnesty on Foreign Income?


After numerous iterations, twists and turns, the Finance Bill 2018 (the 2018 Finance Bill) has now proposed to extend the amnesty on foreign income (the Amnesty) for a further period of twelve (12) months as from 1 July 2018 and to cover any year of income ending on or before 31 December 2017.

The 2018 Finance Bill seeks to repeal the current section 37B of the Tax Procedures Act, 2015, (which provides for the Amnesty) by replacing it with a new section 37B, effective 1 July 2018.

Click here to read a more comprehensive analysis of the proposed provisions relating to the tax amnesty.

Should you have any queries or need any clarifications with respect to the above, please do not hesitate to contact Atiq Anjarwalla or Daniel Ngumy.

Atiq Anjarwalla
Senior Partner
Daniel Ngumy

The content of this alert is intended to be of general use only and should not be relied upon without seeking specific legal advice on any matter.