- Tax Laws Amendments effective December 2024
- VAT laws amendments include repealing threshold, delisting exempt goods, amending exemptions, and introducing new exemptions
- New paragraph in Section 17 of VAT Law addresses effects of rate changes
- Businesses can apply for relief within six months of provision commencement
- Input VAT can only be claimed proportionately to taxable supplies
- VAT exemption broadened to include National Intelligence Service and Defence Forces Welfare Services
- Elimination of 1.5% DST replaced with 3% SEP tax
- SEP tax does not apply to non-residents with turnover below KES 5 million
- Resident and non-resident taxable persons should examine new rules and regulations closely
- Non-resident taxpayers should understand SEP tax legislation and determine if they are subject to it
Source: vatabout.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.
Latest Posts in "Kenya"
- High Court Rules Digital Money Transfer Apps Exempt from VAT, Aligning with Bank Services
- Kenya High Court Rules Fintechs’ Payment Processing Commissions Exempt from VAT
- Kenyan Court Exempts Fintechs from VAT; Ghana Merges Telecoms to Challenge MTN’s Dominance
- Kenya KRA GavaConnect Reaches 1,000 Developers: eTIMS and VAT API Integration Announced
- Kenyan High Court Exempts Pesapal from $500k VAT, Setting Fintech Tax Precedent
