5 Major Developments in Kenya

5 Major Developments in Kenya

• Kenya Enforces Electronic Invoicing

• Implementation of 2023 VAT Regulations for Digital Economy

• Kenya President Signs 2023 Finance Bill, increasing the turnover tax rate to 3 percent from 1 percent

• All Kenyans Pay VAT so it’s Fairer

• EPRA to announce new fuel prices as 16 per cent VAT takes effect

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Cryptocurrency and NFT

• Kenya 3% Cryptoassets and 15% Content Creator Taxes

• Plans to introduce a 3% tax on transfers of digital assets including cryptocurrencies and nonfungible tokens

Deduction (Input Tax Credit)

• Kenya e-invoicing TIMS full implementation Jun 2023

• Kenya Enforcing Electronic Tax Invoice Requirements for VAT Input Tax and Refund Claims from June 2023

• Kenya proposes tax changes under the Finance Bill, 2023

• Traders to Fully Switch to Electronic Invoices Starting June 1

Digital Services Tax

• Application of VAT on Digital Services Provided by Non-Residents

• Kenya to scrap 1.5% Digital Services Tax

E-Commerce / Electronic Services

• Implementation of 2023 VAT Regulations for Digital Economy

• President Ruto orders for a review of proposed tax on digital content creators

• Kenya proposes tax changes under the Finance Bill, 2023

• Key measures proposed in Finance Bill 2023 and implications for non-residents and Digital Asset

• Kenya 3% Cryptoassets and 15% Content Creator Taxes
• Application of VAT on Digital Services Provided by Non-Residents

• New Kenya Law Proposes Expansion of Digital Marketplace Tax Base

• Kenya Issues New Regulations for VAT on Digital Supplies

• Kenya VAT on Non-Resident Digital Services

• Kenya issues VAT (Electronic, Internet, and Digital Marketplace Supply) Regulations, 2023

E-invoicing

• Kenya Enforces Electronic Invoicing

• Kenya e-invoicing TIMS full implementation Jun 2023
• Kenya Enforcing Electronic Tax Invoice Requirements for VAT Input Tax and Refund Claims from June 2023

• KRA adds 61 percent of VAT Accounts to Online Tax Portal

• Traders to Fully Switch to Electronic Invoices Starting June 1

• Kenya Announces Upgrade of Tax Invoice Management System

• KRA launches new eTIMS functionalities for transmission of invoices via digital devices

Excise

• Kenya Controversial Tax Law Back to Parliament

Exemption

• Gov’t to remove VAT on helicopters, aircraft spare parts
• Kenya proposes tax changes under the Finance Bill, 2023
• Several goods or services have been reclassified from zero rated to exempt in the proposed finance bill 2023/24
• Key measures proposed in Finance Bill 2023 and implications for non-residents and Digital Asset

• Cooking Gas Marked for VAT, Rail Tax Exemptions

• Kenya Projects Sh2.89 Trillion Revenue Collection In 2023/24 Financial Year

• Kenya High Court upholds that interchange fees are financial services exempt from VAT

Export

• Kenya Projects Sh2.89 Trillion Revenue Collection In 2023/24 Financial Year

• President William Ruto: VAT on exported services to be removed

• VAT on exported services and liquefied petroleum gas (LPG) will be removed

Importation

• Kenya Controversial Tax Law Back to Parliament

• Machinery, raw materials imported for Jua Kali industry to be exempted from VAT – bill

Legislative Change

• Cooking Gas Marked for VAT, Rail Tax Exemptions

Place of Supply

• President William Ruto: VAT on exported services to be removed

Rate

• Court Suspends Finance Bill Implementation that increases VAT on petroleum products

• EPRA to announce new fuel prices as 16 per cent VAT takes effect

• Kenya President Signs 2023 Finance Bill, increasing the turnover tax rate to 3 percent from 1 percent

• All Kenyans Pay VAT so it’s Fairer

• High VAT on Fuel will Hurt the Poor More

• Atwoli calls on state to reconsider proposed increase of VAT

• Gov’t to remove VAT on helicopters, aircraft spare parts

• Fuel VAT still a thorn in the flesh of Kenyans

• Finance Bill 2023: Kenyans Staring at Higher Pump Prices as MPs Endorse 16% VAT Hike

• Finance Bill 2023: Government Proposes to Increase VAT on Liquefied Petroleum Products from 8% to 16%

• Kenya controversial tax law back to parliament

• Kenya Controversial Tax Law Back to Parliament

• Block doubling of the petroleum VAT

• Raise VAT to equal Uganda, Tanzania

• Kenya proposes tax changes under the Finance Bill, 2023

• President Ruto: We have decided to increase VAT by 8% because having differential rates poses an integrity problem

• Routo defends 16 per cent vat on fuel

• Several goods or services have been reclassified from zero rated to exempt in the proposed finance bill 2023/24

• Treasury Scraps Special VAT, Company Tax Rates in Revenue Push

• Kenyans Oppose William Ruto’s Proposal to Double VAT on Petroleum Products: “Semeni Dynasty Mbaya”

• Deloitte warns proposed tax bill will hurt the economy

• Cooking Gas Marked for VAT, Rail Tax Exemptions
• President William Ruto: VAT on exported services to be removed

Real Time Reporting/Continuous Transaction Controls

• Kenya seeks Rwanda’s VAT collection model to boost revenues

Registration

• Key measures proposed in Finance Bill 2023 and implications for non-residents and Digital Asset

• Kenya Notifies Taxpayers of Taxpayer Register Data Clean Up

Reporting / Compliance

• KRA adds 61 percent of VAT Accounts to Online Tax Portal

Taxable Transaction

• Kenya proposes tax changes under the Finance Bill, 2023
• VAT on exported services and liquefied petroleum gas (LPG) will be removed

Tax Authorities / Penalties

• All Kenyans Pay VAT so it’s Fairer
• High VAT on Fuel will Hurt the Poor More