Analysis of the Tax Changes Proposed by the Tax Laws (Amendment) Bill, 2024 and the Tax Procedures (Amendment) (No.2) Bill, 2024

The Bills propose a raft of amendments to the Income Tax Act (Chapter 470, Laws of Kenya), the Value Added Tax Act, 2013, the Tax Procedures Act, 2015, the Miscellaneous Fees and Levies Act, 2016 and the Excise Duty Act, 2015, which we have highlighted in this alert. A copy of our analysis of the Finance Bill can be found here.

Generally, once passed by Parliament, bills come into effect either on the date of assent by the President or on the date of operation specified in the bill, whichever is later. Unlike the Finance Bill which had set out dates of operation of specific provisions, the Bills do not provide specific dates when they are intended to enter into force. It is therefore expected that the Bills will be enacted into law upon assent by the President.

We have set out below a highlight of the key proposed amendments in the Bills as well as their potential impact on businesses in Kenya.

Click here to download the analysis of key proposed amendments in the Bills.

Should you have any questions on this legal alert, please do not hesitate to contact Daniel Ngumy, Kenneth Njuguna, James Karanja or Dennis Chiruba.

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Contributors
1. Priscilla Githinji – Principal Associate
2. Salma Khamala – Principal Associate
3. Dhruv Shah – Associate
4. Muna Abdullahi – Associate
5. Daisy Mwangi – Associate
6. John Kiragu – Associate
7. Bettina Okinyi – Associate
8. Moses Murugi – Trainee Lawyer
9. Ruth Muthama – Trainee Lawyer
10. Collins Owino – Trainee Lawyer
11. Johnmark Njoroge – Intern