Implications for Consumers on Loyalty program
The evolution of business in terms of e-commerce has not been adequately accommodated in tax legislation. This has led to a lot of confusion and improper tax treatment of most e-commerce transactions. In most countries tax laws still apply archaic principles that lead to losses in tax revenue.
Taxwise Africa Budget Brief Kenya 2016
What the Kenya Budget 2016 really means for you!
The Kenya National Treasury Cabinet Secretary (“CS”) presented the Budget Speech 2016/2017 to the National Assembly on 8th June 2016. In his budget speech, the CS proposed various amendments to the tax statutes in Kenya.
The objectives of the proposed tax amendments are;
1. Promoting growth of industries and employment creation;
2. Facilitating infrastructure development;
3. Enhancing equity and fairness in the tax system and tax administration;
4. Cushioning households budget to ease the cost of living;
5. Strengthening financial sector stability; and
6. Promoting private sector growth.
Taxwise Consulting: Taxation Of Service Gratuity
The Income Tax Act Cap 470 Laws of Kenya doesn’t define “gratuity” but from a look at different definitions as provided in various legal sources, gratuity can be defined as a benefit paid to the employees who have rendered continuous service for at least an agreed number of years or attained specified contract term.
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Taxwise Consulting : Special Economic Zones ACT 2015
Although the concept of Special Economic Zones (SEZ) is new in Kenya it has been adopted in various African states such as Ethiopia, Egypt, Zambia and Nigeria.Kenya has followed suit and is taking steps to actualize the economic pillar goals set out in the Vision 2030 which include establishing SEZ.
Business Registration Services
Following the assent of the Business Registration Services Act (“BRS Act”) on 11th September, 2015 the implementation of the Act is set to be soon actualized. The Act, whose commencement was on 6th November, 2015 has maintained the provisions of the 2014 Bill which was analyzed here. BUSINESS REGISTRATION SERVICES