Tax changes are usually introduced annually through the Finance Bill, but in a break with tradition, the Tax Laws (Amendment) Act, 2018 (No 9 of 2018) (the Tax Laws Act) was assented to on 18 July 2018 and published by the Government Printer on 25 July 2018.
The changes introduced need to be understood in the broader context of the overhaul of the Income Tax Act, Cap 470 and the Government’s Big Four Agenda announced in June 2018. The overhaul of the Income Tax Act is meant to modernise Kenya’s tax code, while the Big Four Agenda is focused on enhancing manufacturing, food security and nutrition, universal healthcare and affordable housing.
Click here to read a more comprehensive overview of the proposed tax changes.
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