Revenue Authority to mandate pre-completed VAT returns January 2024 Kenya’s Revenue Authority has confirmed that all taxpayers will be mandated to use pre-filled VAT returns from 1 January 2024. Draft transaction data from Kenya’s e-invoicing TIMS platform will be used to populate the first version
Kenya’s Treasury 2024 budget proposes 2% hike to 18% The ruling Kenya Kwanza coalition has proposed a 2% rise in the standard VAT rate from 16% to 18% in the Draft Medium-term Debt Strategy for the period 2024-25 and 2026-27. The rise would be to
Electronic Tax Invoice management system (TIMS) full implementation from 1 June 2023 From 1 June 2023 only purchase invoices cleared through the Electronic Tax Invoice management system (TIMS) government system may be used to deduct input VAT by taxpayers. This now applies to all taxpayers.
2023 budget to levy taxes on transfers of cryptocurrency and NFT’s plus online content creation The new 2023/24 Kenyan budget proposes two new digital taxes: 3% on the transfer of cryptocurrencies and Non-Fungible Tokens; and 15% on digital content monetization levying – content creators paid
April 2024 – VAT (Electronic, Internet, and Digital Marketplace Supply) Regulations, 2023, for new simplified VAT registration; registration threshold removed The Revenue Authority updated the 2020 law on compliance VAT rules for providers and marketplaces of digital services. The regulations cover: Digital or electronic services new
Kenya to fall into line with $250 billion OECD global tax reforms – unlocks US free trade deal Kenyan President, William Ruto, has confirmed that Kenya will end its 2021 1.5% Digital Services Tax (DST) as it withdraws its objections to the Pillar 2 OECD reforms
B2B reverse charge option withdrawn for foreign providers of digital services The VAT Digital Marketplace Supply Regulations, which governs the rules for non-resident providers and marketplaces to charge Kenyan VAT, have been updated with a number of changes, including: Withdrawal of the reverse charge for
Foreign providers of electronic services given VAT registration threshold Kenya has introduced a VAT registration threshold for non-resident providers of digital services to Kenyan consumers. This is KES 5 million (approx €41,700) per annum of turnover. This is the same level as for resident business.
Kenya to fall into line with $250 billion OECD global tax reforms – unlocks US free trade deal Kenyan President, William Ruto, has confirmed that Kenya will end its 2021 1.5% Digital Services Tax (DST) as it withdraws its objections to the Pillar 2 OECD reforms
Kenya continues with its DST despite OECD agreement for 2023 global corporate tax reforms The latest Kenyan Finance Act has limited the application of the 1.5% Digital Services Tax (DST) to non-resident digital marketplaces. DST came into effect on 1 January 2021. This is in
