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2020 - 2020-06-12
Kenya Tax Alert Issue No.5 of 2020
Withholding Value Added (VAT) Tax Refunds Withholding VAT was reintroduced through the Finance Act, 2014 and over the years its scope has been significantly widened through the appointment of various agents who have been required to withhold VAT when settling supplier debts. Until the changes implemented under the Finance Act 2019,
6% out of the 16% (now 14%) VAT was required to be withheld by such agents (which dropped to 2% under the Finance Act, 2019). A number of taxpayers ended up with growing VAT credits as a result of such withholding VAT, particularly those taxpayers whose supplies were a combination of zero-rated and standard rated products. The VAT legislation however made no provisions for the refund of the credits related to such withheld VAT.
2020 - 2020-05-15
Kenya Tax Alert Issue No.4 of 2020
The Finance Bill, 2020 (Bill) was published for introduction to the National Assembly on 5 May 2020 detailing out various tax and fiscal proposals. The Bill is open for public participation and PKF will be making detailed submissions in relation to the same. It is important to note that the proposals contained in the Bill are not effective until approved by parliament and enacted into law in the form of an Act. The effective date for each proposal will be specified in the Act.
Read more2020 - 2020-05-05
Kenya Tax Alert Issue No.3 of 2020
The Tax Laws (Amendment) Act, 2020 (Act) was assented by the President on 25 April 2020 and published on 27 April 2020. Most of the provisions in this Act became effective on the date of assent save for the amendments to Section 5(2) of the Value Added Tax (VAT) Act, 2013 which becomes effective on 15 May 2020. This Tax Alert supersedes our Tax Alert Issue number 2 of 2020 which analysed the provisions of the Bill which has now become law.
Read more2020 - 2020-04-08
Kenya Tax Alert Issue No.2 of 2020
On 25 March 2020, President Uhuru Kenyatta announced various measures ‘to cushion every Kenyan from the shocks arising from COVID-19’, with the principle aim of providing certainty to both employees and employers. Subsequently, The Tax Laws (Amendment) Bill, 2020 was Gazetted on 30 March 2020 detailing out these and various other fiscal proposals. This is in addition to the reduction of the Value Added Tax (VAT) rate to 14% which was effected on 1 April 2020.
Read moreCSR -2020-02-28
Corporate Social Responsibility 2019 Report
At PKF, we pride ourselves in having a deep heritage of operating at the highest level of integrity. We have a strong commitment to responsible business practices and recognise the importance of balancing the interests of all our key stakeholders - our clients, staff and the communities in which we work.
Read more2019 -2019-12-01
Tanzania Journal - Transfer Pricing
Transfer pricing is one of the important issues globally.it is constantly under debate and scrutiny by the tax administration in almost every country.
Read more2019 -2019-11-15
Kenya Tax Alert Issue No. 5 of 2019
Prior to the date of assent of FA 2019, none of the changes proposed in the Finance Bill, 2019 had taken effect. This publication highlights the tax proposals in the Finance Act 2019 with the earliest having an effective date of 7 November 2019 and the rest becoming effective from 1 January 2020.
Read more2019 -2019-11-15
PKF Kenya 2019 - 2020 Quick Tax Guide
The PKF Kenya 2019 - 2020 Quick Tax Guide highlights the changes of the Finance Act 2019 assented by the President on 7 November.
Read more2019 -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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