KRA Head Office in Nairobi (PHOTO: FILE)NAIROBI, KENYA: PwC Tax experts have appealed to Kenya businesses to acquaint themselves with recently introduced tax initiatives by the government to avoid costly penalties due to non-compliance. They said this during a virtual webcast on Thursday called, 'Demystifying Minimum Tax Provisions,' which discussed the practical aspects of the minimum tax provisions and how they would impact businesses. According to Edna Gitachu, Senior Manager and Tax Policy Specialist at PwC, at first glance, minimum tax may seem easy to implement. “In Africa, countries such as Nigeria and Tanzania have introduced a minimum tax liability in their tax codes. “ In the meantime, businesses should familiarise themselves with the minimum tax and comply with its provisions to avoid costly penalties due to non-compliance,” he said.

Source: Standard Digital March 15, 2021 10:52 UTC