Tag: digital tax
The Kenyan Revenue Authority invites the public to comment on the country’s imminent digital tax; the Capital Market Authority puts new protective measures in place; and regional exports take a dip - these are the stories making headlines in Kenya and CNBC Africa spoke to journalist, Joseph Bonyo for more.
Kenya’s Finance Bill 2020 proposes to introduce a 1.5 per cent tax on the gross transaction value of digital Services as well as levy VAT at 14 per cent on a number of goods that are currently exempt. This is in efforts to boost tax revenue in the country. Edna Gitachu, Tax Policy Lead at PwC Kenya joins CNBC Africa for more.
Kenya will start levying new tax on digital markets under a new law signed by the president early in November. The Finance Act seeks to broaden the Income Tax Act net to include income accruing through a digital market place.