AdvertisementEntry fees to national parks, reserves as well as services of tour operators, excluding in-house supplies – which were tax exempt – will also attract 14 per cent VAT if lawmakers approve the proposals. This means the government gave tax relief to citizens and companies only to take away the same benefits through other measures. KPMG, analysts at the Law Society of Kenya (LSK) and other tax experts say the drafters of the 2020 Tax Laws (Amendment Bill) appear to be reading from a script that is different from the one prepared by State House. “Disallowing expenses for corporation tax will increase the bill of companies looking to list or float shares at the NSE. President Kenyatta reduced Resident Income Tax or what is also known as Corporation Tax from 30 to 25 per cent.

Source: Daily Nation April 08, 2020 06:56 UTC