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2019 - 2019-11-06

Rwanda Tax Alert

The new Tax Procedures Law officially known as the Law No. 026/2019 of 18/09/2019 on Tax Procedures was published in the official gazette on 10 October 2019 and came into force on the same day. This new law repeals the previous Law No. 25/2005 of 04/12/2005 on Tax Procedures which had been in force since 2005.
Several amendments have been made and in this newsletter, we have highlighted some of the changes that we opine may have a fundamental impact on the way you do business in Rwanda in terms of tax procedures.

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2019 - 2019-08-21

Kenya Tax Alert Issue No. 4 of 2019

The process for issuance of Tax Compliance Certificates (TCC) has been enhanced. The system first verifies the tax compliance status from existing iTax data and a taxpayer will only proceed with the application if all tax returns have been filed and all taxes have been paid.

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iNews - IFRS & Technical Updates - 2019-08-02

Lease Accounting Under IFRS 16

In January 2016 the IASB abolished the need for classification of leases as either finance or operating (for lessees) which previously resulted in assets and obligations related to operating leases being left out of the balance sheet. Other than for short term leases and leases of low value assets, lessees will present all leased assets and obligations on the balance sheet with effect from 1 January 2019.

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PKF in Eastern Africa Member Firms Budget Reviews - 2019-06-20

PKF Kenya 2019-2020 Budget Review

PKF Kenya Budget Review Analysis for the year 2019/2020.

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2019 -2019-05-17

Tanzania Journal – EFD Invoices and Credit Note Procedures

This journal is an extension to our Feb 19 journal which had put the EFD under spotlight. In this journal we aim to address common questions a taxpayer faces during the process of issuing a tax invoice, claiming the same and mechanics for processing credit notes.

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2019 -2019-04-17

Kenya Tax Alert Issue No. 3 of 2019

This Tax Alert highlights the facts of the recent High Court ruling on the Double Taxation Agreement between Kenya and Mauritius and the recent developments with respect to Value Added Tax (“VAT”).

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2019 -2019-03-13

Tanzania Tax Journal-A Spotlight on EFD

Tanzania has implemented an electronic fiscal device (EFD) system since 2010. Over the years we have come across taxpayers who have been penalized for improper or negligent use of their EFD.
Through this journal we shed some light on how to manage EFD effectively and we also guide you on how to check compliance boxes to avoid tax repercussions.

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2019 -2019-03-07

PKF Tanzania Tax Journal-Statement of Tax Accounts

Tanzania Revenue Authority (TRA) maintains a tax account for all taxpayers. The tax account is for the purpose of recording transactions and is not different from any other account.

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2019 -2019-02-18

Kenya Tax Alert Issue No. 2 of 2019 - Dividend Distribution Tax

With effect from 1 January 2019, The Finance Act, 2018 repealed Section 7A of the Income Tax Act, CAP 470 (ITA) on compensating tax and replaced it with a tax on dividends distributed out of untaxed gains or profits.
The Kenya Revenue Authority (“KRA”) has issued certain clarifications on the operation of the new changes which we highlight in the publication.

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2019 -2019-02-05

Kenya Tax Alert Issue No. 1 of 2019

The Finance Act, No. 10 of 2018 (The Act) which was assented on 21 September 2018 amended various tax laws as highlighted in our 2018 Budget Book and Tax Alert Issue No. 5 2018.
Whereas most of the amendments became effective on 1 July 2018, there are a number of amendments which became effective on 1 January 2019. This alert highlights amendments which became effective on 1 January 2019 and the recent developments with respect to Value Added Tax Auto Assessment (“VAA”) among other important developments.

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