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VAT

Proposal: Additional criteria for issuance of a credit note, reduction in time to apply for VAT refunds arising from bad debts, …

Kenya proposes Tax Laws Amendments Bill, 2020, VAT proposals:

  • Amendment of definition of value of supply of selected petroleum products
  • Additional criteria for issuance of a credit note
  • Definition of ordinary bread
  • Reduction in period within which to apply for VAT refunds arising from bad debts
  • Change to require all taxpayers to maintain records of their transactions
  • Amendment of status of various VAT supplies

Source EY

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