- The Kenyan Official Gazette published the Tax Procedures Amendment Act 2024 on December 13, 2024
- The law specifies electronic invoice details for small businesses with annual turnover not exceeding 5 million Kenyan shillings
- Penalties, interest, and fines on tax debt are waived if the principal is fully paid before December 31, 2023, with a one-time amnesty available if paid by June 30, 2025
- The Commissioner can extinguish tax debt when recovery is doubtful or difficult
- The minimum investment value for registered manufacturers to avoid VAT withholding is reduced from 3 billion to 2 billion Kenyan shillings for investments as of December 31, 2024
- Application periods for overpayment refunds or offsets are amended to five years for income tax and 12 months for other taxes
- The law is effective from December 27, 2024
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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