Taxwise Consulting:- Tax Procedures ACT, 2015 Now in Force
The Tax Procedures Act, 2015 was assented into law on 15th December, 2015 and came into effect on 19th January 2016 vide Legal notice number 12 of 2015.
The purpose of the Act is to provide for uniform procedures for
a) consistency and efficiency in the administration of tax laws;
b) facilitation of tax compliance by taxpayers; and
c) effective and efficient collection of tax.
The procedures provided under the Act shall apply to all taxes in Kenya unless where a tax law specifies a procedure that is unique to the administration of a tax. The Act affects taxpayers, tax agents and the Kenya Revenue Authority.
Taxwise Consulting: Regional Customs
Easing the cost of doing business in Kenya; Transit and customs measures eliminating trade and transport barriers in Kenya.
In a Public Notice issued on 21st January, 2016, The Kenya Revenue Authority laid out new compliance measures for all importers, clearing agents, and guarantors of Maritime Products under the Single Customs Territory and Transit regime.
Link: Regional Customs
The Kenya Excise Duty Act 2015
Date of assent: 6 November, 2015
Date of Commencement: 1 December, 2015
The Excise Duty Act, Law No. 23 of 2015 (“The Act”) came in to effect on 1st December, 2015 vide LegalNotice No. 245. The Act repeals the Customs and Excise Act CAP 472.This Act has embraced best practice by creating a stand-alone Excise statute.
Taxwise Conuslting; Fringe Benefit Tax
Customs Alert: New Certificate of Conformity Guidelines
Kenya Bureau of Standards (“KEBS”) and the Kenya Revenue Authority (“KRA”) have released new guidelines for importers. Effective 1st December 2015 all importers will be required to produce a Certificate of Conformity (“CoC”) in order to have their imported goods cleared through customs.
This new requirement is a move to protect consumers from substandard products being dumped into the market. It will also be used as a tool to deal with undervaluation and mis- declaration of goods during clearing, concealment of sub-standard products and clear up the hustle of destination inspection.
This tax alert seeks to answer any issues that an importer may have and provide more information on the new guidelines.