No More Tax Reliefs – KRA Declares In A Surprise Move
KEY POINTS
Kenya's tax collector says in a period of 5 years, 610 billion shillings were given as tax incentives to businesses in Kenya.
Kenya Revenue Authority (KRA) says those used to tax reliefs will now have to find other ways of relief because there shall be no more tax reliefs for them. Tax reliefs have now been suspended effective immediately until further notice.
“The suspension of tax reliefs follows concerns from taxpayers, initiating the need to restructure rules and procedures governing tax exemptions,” said KRA in a statement.
Kenya’s tax collector says in a period of 5 years, 610 billion shillings were given as tax incentives to businesses in Kenya. The figure quoted is enough to raise eyebrows with Kenyans demanding to know the list of companies that enjoyed the incentives.
KRA said the decision was made in consultation with the National Treasury to enhance ongoing processes related to the payment of tax refunds, exemptions, waivers, and abandonments.
“KRA continues to comply with the law by assessing and processing the tax reliefs during this process,” KRA said in a statement signed by board chairperson Anthony Mwaura.
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