TAX REGIME

Minimum tax isn't global best practice

In Summary

• KRA wants companies to pay a one percent tax on turnover even if they are making losses

• The tax will not be payable if the company pays corporation tax in excess of the one percent turnover tax

A Machakos court has suspended the one percent minimum tax on turnover that was due to come into force. The Kenya Revenue Authority wants businesses to pay income tax even if they are losing ...

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