- Kenya High Court rules tax laws do not impose additional customs duties on oil product gains
- Kenya Revenue Authority sought to tax product gains from molecular expansion
- High Court decision affirmed that tax laws do not allow for taxing product gains
- Decision emphasized strict interpretation of tax statutes and no room for additional taxes on product gains
- Implication is that product gains are not subject to tax
- Appeal arose from KRA tax assessment on oil marketing company’s operations
- KRA argued for taxing gains from molecular expansion of petroleum products
- OMC argued that duties and levies are paid upon importation, no additional taxes on product gains
- OMC contended that product gains are part of duty-paid petroleum products
- High Court noted right to claim refund for approved losses under EACCMA Section 138
Source: globaltaxnews.ey.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
