Tag: KRA

Incorporating the informal sector into electonic tax

Kenya’s informal sector, often referred to as the “Jua Kali” sector, plays a vital role in the country’s socio-economic climate. This sector encompasses millions of self-employed individuals, small traders, and micro-enterprises, who contribute significantly to Kenya’s GDP and make up a significant majority of the labour force. However, despite its crucial role, the informal sector […]...

Navigating the shift: eTIMS compliance and opportunities for businesses

Tax compliance and broadening the tax base are pivotal to the Kenya Revenue Authority’s (KRA) strategy for enhancing national revenue and ensuring equitable economic participation across all sectors...

21 Mar 2024

Enhancing tax compliance to boost revenue: Expanding the tax bracket and prudent spending must go hand in hand.

Meeting Kenya’s ever-growing development needs, largely financed through taxation, is an arduous task. The broader fiscal context Kenya finds itself in currently makes even the challenge dauntin...

24 Feb 2024

Kenya’s fiscal landscape: A Review of the 2024 Budget Policy Statement and its implications on businesses

Background The Budget Policy Statement (BPS) is a government policy document that sets out the broad strategic priorities and policy goals to guide the National Government and County Governments in pr...

16 Feb 2024

You can run, but you can’t hide: As Kenya adopts CRS, calls for balancing tax transparency with data privacy concerns emerge.

Kenyan commercial banks have started implementing the Common Reporting Standards (CRS), a tax procedures regulation of 2023. This regulation requires all Kenyan banks, trusts, and other financial inst...

16 Feb 2024

Navigating Voluntary Tax Disclosure Programmes: A Guide for Businesses.

In the dynamic landscape of taxation, businesses often find themselves grappling with complex tax compliance requirements. In response to this challenge, tax authorities around the world have introduc...

7 Apr 2023

Expected changes in the fiscal policy to attract investment in Kenya

The current administration is committed to bringing legislative amendments to the fiscal policy through the Finance Bill, 2023, and the Budget Policy Statement. President William Ruto noted that the c...

24 Mar 2023

Energy ministry signs new deal for supply of petroleum products to ease pressure on the shilling

In a bid to ease pressure on the shilling currently depreciating in value against the dollar, the government has adopted a government-to-government deal on oil importation. In a statement, Cabinet Sec...

17 Mar 2023

Taxpayers’ burden of keeping Kenya Kwanza CASs in office

Kenya Taxpayers’ burden of keeping Kenya Kwanza CASs in office Kenyan taxpayers will spend more than half a billion shillings annually on salaries and benefits for the 50 Chief Administrative Secret...

10 Mar 2023

City Hall turns to Safaricom for revenue collection

Kenya City Hall turns to Safaricom for revenue collection Safaricom has inked a two-year deal with City Hall to offer a payment platform for Nairobi County services in a move set to lower pilferages i...

3 Mar 2023

Dynamics of the booming ‘mitumba’ industry and possible lessons for corporates

Second-hand clothes or ‘mitumba’ as they are popularly known in Kenya, are disposed of clothes previously worn in developed countries and imported to countries such as Kenya and other countries ...