Business Laws (Amendment) Bill, 2020 Set to Improve Ease of Doing Business in Kenya

With the introduction of the Business Laws (Amendment) Bill, 2019 (the Bill), businesses stand to win big as the Kenyan government moves to amend certain statutes with the aim of improving the ease of doing business in the country. The Bill, which was introduced in the National Assembly in November 2019 and is currently in its First Reading stage, proposes several changes which, if adopted, could reduce costs and time spent on certain transactions in Kenya.

 

 

The Coming into Force of Common Reporting Standards in Kenya

Kenya is stepping up its efforts to join global tax transparent jurisdictions in connection with the exchange of information on foreign accounts for tax purposes. On 5 December 2019, Kenya ratified the Convention on Mutual Administrative Assistance in Tax Matters (the Convention) which had been signed on 8 February 2016. By 27 November 2019, 135 countries had signed the Convention, including most of the offshore jurisdictions.

 

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