• There’s need to reduce the revenue forecasting errors (set realistic targets) • High domestic borrowing has had a crowding out effect on the private sector, leading to lower revenue performance 20 Thank You! 21 Taxation Proposals Finance Bill 2021 • Cabinet Secretary for the National Treasury tabled the finance bill April 2021 together with estimates • Tax policy measures expected to generate to. [...] • KRA to continue strengthening and upgrading ICT systems • Information sharing through MOUs with other jurisdiction to support fight against cross border tax evasion • Revenue enhancement initiatives(REI) Income Tax Proposals • The bill proposes to re-introduce the definition of control which is much more comprehensive, and in line with the proposal in the Income Tax • Deletion of permanent estab. [...] Income Tax Proposals • The bill proposes to amend and include business carried over the internet or an electronic network (DST)-An online platform which enables users to sell or provide services, goods or other property to other users • Tax rebates for graduates in technical and vocational education and training • The bill proposes to change the computation of capital allowances from reducing bala. [...] Excise Duty • Locally manufactured and imported sugar confectionary and chocolate manufactured locally to be subject to excise duty • reintroduction of excise duty on betting - reintroduce excise duty on betting activities at the rate of 20% of the amount staked • Fees or commission earned in respect of a loan to be subject to excise duty -reduce profits by financial institutions and make loans an. [...] Miscellaneous fees and levies Act • The Finance bill proposes an application for refunds, ascertainment and repayment of fees and levies overpaid or paid in error • The bill proposes the exemption of goods valued at five billion shillings or more imported in the interest of public or promoting investment from Import Declaration Fee (IDF) and Railway Development Levy (RDL).
- Pages
- 33
- Published in
- Kenya
