Category: Kenya
Expert urges Kenya to reconsider imposing tax on digital platforms
Bitange Ndemo, a former principal secretary in the ministry of ICT warns against the taxation of non-domiciled digital companies and advises the government to review its decision. ... - Continue reading
Kenya signs landmark agreement to strengthen its tax treaties
The ongoing national efforts to strengthen the country’s bilateral tax treaties have received a boost with the signing of a multilateral convention to end tax avoidance in France. ... - Continue reading
Mauritius: Mauritius Regulatory Update
This is the first in a series of of Mauritius Regulatory Alerts in which we bring you an overview of the latest legal and regulatory developments in the offshore world, with a particular focus on Mauritius. ... - Continue reading
CIAT database reflects progress made by 15 countries implementing BEPS recommendations
CIAT’s BEPS Monitoring Database has been updated to reflect advancements made by Angola, Argentina, Bermuda, Brazil, Chile, Colombia, Costa Rica, Honduras, India, Jamaica, Mexico, Panama, Paraguay, Spain, and Uruguay. ... - Continue reading
Kenya, Botswana inks 3 pacts to shore up bilateral ties
NAIROBI, July 23 (Xinhua) — Kenya and Botswana on Tuesday signed three key agreements to help deepen bilateral ties between the two African countries. The agreements, which cover bilateral trade, air transport and ICT, were signed at the end of talks held between visiting Botswana president Mokgweetsi Masisi and his… – Continue reading
Kenya, Turkey to sign tax treaty by end of 2019
NAIROBI, July 14 (Xinhua) — Kenya and Turkey are set to sign a double taxation avoidance agreement by the end of 2019, a Turkish diplomat said on Sunday. Ahmet Cemil Miroglu, Turkish ambassador to Kenya told journalists in Nairobi that both countries are keen to improve the environment for investment… – Continue reading
Pagcor: Government not inclined to impose higher taxes on POGOs
State-run Philippine Amusement and Gaming Corp. expressed optimism the government will not impose higher taxes on offshore gaming operators in the country to encourage them to stay here. Pagcor chairman and chief executive Andrea Domingo said at the sidelines of the opening of the first Philippine-Asian Gaming Expo held on… – Continue reading
MP in the Dock Over Sh487m Tax Evasion
The member of parliament for Lamu West constituency Mr Stanley Muthama has been charged in an Eldoret Court for tax evasion. Mr Muthama appeared before Eldoret Chief Magistrate Charles Obulutsa on Monday for allegedly failing to remit Sh487 million in taxes from businesses operated under Stansha Limited, a company linked to him…. – Continue reading
Cargo pile-up at ICD depot linked to tax evasion scam
Unscrupulous agents based in Dubai and China are behind the pile-up of cargo at the Nairobi Inland Container Depot (ICD) even as it emerged that this is also a ploy to evade taxes. People Daily yesterday established that small-scale traders using these agents to consolidate their cargo in one container… – Continue reading
Government Should Investigate BAT’s Tax Evasion
Kenya Tobacco Control Alliance KETCA has today called upon the government to prioritize regulations that enable the maximization of corporate tax revenue from British American Tobacco (BAT) Company. The KETCA Chairman, Joel Gitali said that BAT avoids paying full corporate taxes which would have been used for public services like… – Continue reading
Three Chinese businessmen arrested over Sh58 million tax evasion
Detectives on Wednesday night arrested three Chinese nationals for evading to pay tax to Kenya Revenue Authority (KRA) amounting to Sh58 million. The three, Pi Ning, Li Hua and Hu Bin, are directors of Electric Tools Kenya Limited. The suspects, who are being held at the Railway Police Station, will… – Continue reading
48 KRA officers wanted for bribery, tax evasion
48 Kenya Revenue Authority (KRA) officials were Monday morning expected at the Directorate of Criminal Investigations (DCI) headquarters on Kiambu road for questioning. The individuals include 32 officers from KRA’s Domestic Taxes Department, 15 from the Customs and Border Control Department and one from the Investigations and Enforcement Department. They… – Continue reading
Gov’t targets to lower corporate tax rate
The government is targeting to increase tax compliance among Micro Small and Medium Sized Enterprises by offering them lower corporate tax. East African Affairs Cabinet Secretary Adan Mohammed says various government agencies are working closely in integrating all tax payment regimes to ease tax payment and boost compliance. Tax avoidance… – Continue reading
Kenya and Mozambique move to remove double taxation, ease Visa rules
Foreign Affairs Cabinet Secretary Monica Juma says the move is aimed at eliminating double taxation. Juma and her Mozambique counterpart Jose Antonio Pachecho have constituted a Joint Commission of Cooperation tasked with this mandate ahead of the State Visit by Mozambique President Filipe Nyusi who will be hosted by President… – Continue reading
KRA Reveals 6 Tricks Foreign Firms Use to Evade Tax
Kenya Revenue Authority (KRA) has revealed six tricks that multinational firms use to dodge paying tax. One of the schemes involves the firms exporting very cheaply and importing good very expensively. The authority reports that most firms also under-declare they pay to expatriates a move that reduces their profits and… – Continue reading
E-tax system will burden us – KAM
Manufacturers have accused the Kenya Revenue Authority of bulldozing the planned roll out of the e-tax stamp duty system despite numerous concerns. Their main concern is that the Excise Goods Management System will push up the cost of doing business. The Kenya Association of Manufacturers yesterday made a passionate appeal… – Continue reading
Kenya, Turkey to sign tax treaty to enhance commercial ties
NAIROBI, July 13 (Xinhua) — Kenya and Turkey are set to sign a double taxation avoidance agreement in order to boost bilateral commercial ties, a Turkish diplomat said Friday. Ahmet Cemil Miroglu, Turkish Ambassador to Kenya, told a media briefing in Nairobi that both nations have already agreed on the… – Continue reading
Kenya, Portugal sign deal on removal of double taxation
Kenya and Portugal on Tuesday signed an agreement for avoidance of double taxation. The main objective of the Agreement on the Avoidance Double Taxation is to eliminate double taxation of income or gains arising in one country and paid to residents of the other country. This will create a conducive… – Continue reading
Kenya inks deal with Singapore to eliminate double taxation
NAIROBI, June 12 (Xinhua) — Kenya on Tuesday signed an agreement with Singapore to phase out double taxation and attract investments from the Southeast Asian country in key sectors like agro-processing and financial services. Henry Rotich, the Cabinet Secretary for National Treasury and Planning, said the elimination of double taxation… – Continue reading
Promote EAC trade, reduce taxes – CS
Taxation by county governments on transit goods is holding back plans to eliminate trade barriers between East Africa Africa Community countries, Cabinet minster Peter Munya said at the weekend. The Cabinet Secretary for East African and Northern Corridor Development said said double taxation will stiffle the growth of the East… – Continue reading
Wealthy Kenyans With Billions Hidden in Offshore Accounts Rush to File Returns Ahead of Amnesty Deadline
As June 30th deadline to file returns with Kenya Revenue Authority (KRA) fast closes in, a section of rich Kenyans who have hidden assets overseas are rushing to return the assets to avoid paying taxes. Tax consultants told Business Daily that the wealthy lot is repatriating the cash to avoid… – Continue reading
India, Kenya revise tax treaty
NEW DELHI: The Indian and Kenyan governments have revised their double taxation avoidance agreement (DTAA) to bring down the withholding tax rates, protect treaty from abuse and check tax evasion, an official statement said on Thursday. The revised DTAA was notified on February 19, said a Finance Ministry statement. “The… – Continue reading
East African states to ratify double taxation treaty to boost integration
NAIROBI, Nov. 16 (Xinhua) — The East African Community (EAC) member states are set to ratify the avoidance of double taxation treaty in order to boost regional integration, a Kenyan official said on Thursday. Barrack Ndegwa, Regional Integration Secretary in the Ministry of EAC, Labor and Social Protection, told Xinhua… – Continue reading
Kenya and China sign tax treaty to boost bilateral ties
NAIROBI (Xinhua) — Kenya and China on Thursday signed an agreement on the avoidance of double taxation that aims to boost bilateral commercial ties, Kenyan officials said. Cabinet Secretary in the National Treasury Henry Rotich told a media briefing in Nairobi that the deal will create certainty to the tax… – Continue reading
Kenya launches crackdown on rights groups over tax evasion, illegal hiring
NAIROBI, Aug. 15 (Xinhua) — The Kenyan government on Tuesday announced the deregistration of two human rights and governance lobby groups, citing their failure to adhere to domestic tax and employment regulations. Executive Director of NGO Coordination Board, Fazul Mahamed ordered the Kenya Human Rights Commission (KHRC) and African Center… – Continue reading
Iran, Kenya ink agreement on double taxation avoidance
TEHRAN – A Double Taxation Avoidance Agreement (DTAA) was signed between Iran and Kenya during the visit of an Iranian trade delegation to the African country. According to the Public Relations Department of Iran’s Trade Promotion Organization (TPO), the agreement was signed by the Iranian ambassador to Kenya Hadi Farajvand,… – Continue reading
Fraud, tax avoidance threaten regional economies in East Africa: experts
East Africa tax experts have raised concerns over increasing cases of tax evasion and fraud by some tax payers in the region which is crippling the economies. They made the remarks on Wednesday during the 6th East Africa regional meeting on tax investigation and enforcement in the Rwandan Capital Kigali…. – Continue reading
Taxman thwarts dodgy traders’ attempts to evade customs duty
The new scanners by Kenya Revenue Authority at entry points has helped curb a multi-million-shilling tax evasion racket. The crooks had used all ways to beat the authority’s system to import luxury cars declared as toys or bicycles; scrap batteries that turned out to be Kenyan tea for export and… – Continue reading
Publication of tax amnesty guidelines to unlock offshore billions – Tax experts
The government has been urged to publish guidelines on how taxpayers will declare their offshore assets and income to take advantage of a tax amnesty for income earned outside the country. PWC tax partner Rajesh Shah says the guidelines and regulations should have been published by December 2016 adding that… – Continue reading
Davos 2017: Oxfam attacks failing global tax avoidance battle
World Economic Forum debate hears how fight to make companies ‘pay their fair share’ is being undermined by race to cut corporation tax rates Efforts to tackle global tax avoidance are being undermined by a “race to the bottom” on corporate tax rates led by Britain and the US, the… – Continue reading
Global crackdown on tax evasion signals the end of bank secrecy era
Unknown to many Kenyans, Parliament’s passing of Finance Bill, 2016 that granted amnesty to Kenyan residents who have offshore incomes and assets in foreign banks had a very global agenda. The foreign income that is subject to amnesty is for the year ended December 31, 2016 and offers a waiver… – Continue reading
Kenya to lend its tax expertise to Botswana after historic deal
The Kenya Revenue Authority has signed an international memorandum of understanding on tax collaboration with Botswana, to provide administration assistance from next year. Tax officials from Kenya and Botswana on Thursday agreed to the assistance project that marks the first South-South cooperation pact under the Tax Inspectors Without Borders programme… – Continue reading
Singapore-Africa trade relations set to deepen with new agreements
Trade relations between Singapore and Africa are set to deepen, with several agreements signed on Wednesday (Aug 24) at the fourth edition of the Africa Singapore Business Forum. These include the signing of the Avoidance of Double Taxation (DTA) with Ethiopia, a bilateral investment treaty (BIT) with Mozambique and an… – Continue reading
Kenya Treasury to create international center to curb tax evasion
Kenya will create an international taxation center to help in the global crackdown against tax avoidance, a senior official said on Wednesday. John Njiraini, the Commissioner General of the Kenya Revenue Authority (KRA), said the formation of the international tax office would enable Kenya to curb tax evasion. The office… – Continue reading
Kenya, India to enter revised double taxation avoidance pact
Kenya and India will enter into a revised agreement for the avoidance of double taxation on Monday when President Uhuru Kenyatta and Prime Minister Narendra Modi of India preside over the signing of several agreements on Monday. At a press briefing on Sunday, President Kenyatta’s spokesman Manoah Esipisu said other… – Continue reading
EAC fail to reach consensus on common tax rates
East African Community member states have failed to reach a deal on a common tax rate as the bloc’s smaller economies worry about significant revenue losses. The failure to harmonise value added tax, income tax and excise tax rates has left the regional bloc deliberating on how to harmonise legislation… – Continue reading
Tax havens accuse US of ‘hypocrisy’ over tax avoidance
A group of tax havens have accused larger countries like the United States of “hypocrisy” when it comes to cracking down on tax avoidance. With the issue of offshore finance high on the agenda in light of the fall out from the so-called Panama Papers scandal, world leaders convened in… – Continue reading
Kenyan appointed to head global tax administration program
Kenya has received global recognition from the Organisation for Economic Co-operation and Development (OECD), following the appointment of James Karanja, a career Kenyan tax administrator to lead the recently established Tax Inspectors Without Borders (TIWB) Secretariat. TIWB is a global scope initiative, that was launched mid last year at the… – Continue reading
Kenya and Italy sign joint declaration on double taxation
KENYA and Italy have agreed to avoid double taxation to promote trade and investments between the two countries. The National Treasury said the agreement was was signed on Thursday during a meeting between the Cabinet secretary Henry Rotich and the Minister for Economy and Finances of the Italian Republic, Pier… – Continue reading
Kenya to Intensify War Against Tax Evasion, Economic Crimes
Kenya will now be able to pursue individuals who use offshore companies to evade taxes and commit other economic crimes, after it signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters last week. The agreement is the most comprehensive multilateral instrument available for all forms of cooperation to… – Continue reading
Kenya: Treasury Defends Controversial Mauritius Tax Agreement
Treasury is still fighting to keep a tax agreement out of parliament after a lobby group sued them over a pact it signed with Mauritius back in 2012. The double taxation avoidance agreement allows firms registered in the two countries to pay taxes in only one country. It also allows… – Continue reading
Kenya, Canada to sign investment promotion deal
NAIROBI, Jan. 11 (Xinhua) — Kenya and Canada are set to sign an agreement on the promotion of investments and trade between the two countries, officials said on Monday. Canadian High Commissioner to Kenya David Angell told Xinhua in Nairobi that the two governments are talking to each other and… – Continue reading
Nigeria: A Review of the Major Tax and Fiscal Policy Events in the Past Year
The year 2015 will be marked as the year of slow economic growth and haphazard fiscal and monetary policies due in part to the uncertainties brought about by the change in government. There were also leadership changes at the FIRS and a number of state tax authorities. This article outlines… – Continue reading
Stop double taxation, Kenyan counties told
The Transition Authority has asked counties to stop levying some fees that have seen companies exposed to double taxation. In its advisory opinion dated December 2015 on levying of taxes, fees and charges by county governments, the authority said it has over the transition period received several complaints on the… – Continue reading
ATAF pushes for scrapping of double taxation
THE African Tax Administration Forum (ATAF) has come up with a draft document on avoidance of double taxation and prevention of fiscal evasion within the continent. The Zimbabwe Revenue Authority (Zimra), a member of ATAF, has said avoidance of taxation and prevention of fiscal evasion was with respect to taxes… – Continue reading
Panama thumbs its nose at transparency – again
We have on several occasions fingered Panama as a particularly recalcitrant secrecy jurisdiction: our recent Panama Narrative Report spills a fair number of beans in that respect. Its recalcitrance is perhaps hardly surprising, given the quantity of Colombian and Mexican drugs money believed to be sheltered there – to name… – Continue reading
Mauritius plans derivatives platform in bid for African business
Mauritius plans to launch a trading platform to hedge African currencies against the US dollar, part of a bid to expand its role as a financial hub for the continent, the financial services minister said. The Indian Ocean island is also in talks to boost ties with stock exchanges in… – Continue reading
EAC STATES ADOPT NEW MEASURES TO CURB TAX LOSS
Multinationals operating in Kenya, Tanzania and Uganda will be among the first in Africa to feel the impact of new measures to be adopted in January to curb tax losses caused by manipulation of contracts between related companies. The three countries together with Nigeria, Ghana, Burkina Faso, Senegal, Botswana and… – Continue reading
