Stay informed about the latest developments in tax laws, regulations, and compliance requirements. This category provides expert analysis of amendments to tax legislation, their implications for businesses and individuals, and actionable insights for navigating the evolving tax landscape. Perfect for business owners, financial professionals, and anyone seeking clarity on tax-related matters.
The Kenya Revenue Authority (KRA) has taken another bold step in its tax modernization efforts by automating the registration process for the Electronic Tax Invoice Management System (eTIMS). This move is aimed at simplifying tax compliance for businesses while tightening revenue collection. But for many Kenyan business owners, the big question remains: Will this automation make tax compliance easier, or is it another bureaucratic hurdle?
Borrowers in Kenya now have a reason to breathe easier as a groundbreaking new law takes effect, banning the harassment of loan defaulters. This law is a game-changer in the financial sector, promising fair treatment for borrowers while setting clear boundaries for lenders.
On December 11, 2024, the President signed the Tax Laws Amendment Act, 2024 (TLAA) into law, with its provisions taking effect on December 27, 2024. The Act modifies several tax-related laws, including the Income Tax Act (ITA), the Value Added Tax Act (VAT Act), the Excise Duty Act, and the Miscellaneous Fees and Levies Act. Below, we highlight some of the significant changes introduced by this Act.
