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Doing Business In Kenya

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The World Bank has issued a publication outlining the major areas of doing business in Kenya. The publication looks at the following areas in depth:
 

  1. Starting a business
  2. Dealing with construction permits
  3. Getting electricity
  4. Registering property
  5. Getting credit
  6. Protecting minority investors
  7. Paying taxes
  8. Trading across borders
  9. Enforcing contracts
  10. Resolving insolvency
  11. Employing workers

Kenyan National Budget 2021/22

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Kenya’s FY 2021/22 budget is being presented at a time when the global economy is emerging from recession due to the pandemic. The budget aims at addressing concerns arising from the difficulties in accessing Covid 19 vaccines, high cost of living, unemployment, stimulating private sector growth and the rising public debt. The Anant Bhatt LLP publication covers a wide range of areas of the budget including:
 

  1. Kenyan economy overview
  2. Sector overview
  3. Income tax
  4. VAT
  5. Excise duty
  6. Tax procedures act
  7. Miscellaneous fees & levies
  8. Capital markets act
  9. Insurance act

Kenyan Finance Act, 2021

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The proposed changes in the Finance Bill, 2021 (Bill) indicate a clear intent by the government to align its tax legislation with international best practice as it seeks to increase its tax revenues. The proposals are heavily inspired by the recent changes by the Organization for Economic Co-operation and Development (OECD) relating to tax and the prevention of profit shifting to low tax jurisdictions.

FAQ on Beneficial Ownership Regulations - 2021

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The new beneficial ownership regulation requirements of the law states that every company is now required to keep a register of its beneficial owners, and also maintain a copy of it with the Registrar of Companies. On 16th October 2020, the Registrar of Companies began operations of the Beneficial Ownership E-Register, with effect from 13th October 2020. The final date for compliance is 31st January 2021.

Kenyan Taxation Calendar - 2021

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Anant Bhatt LLP has devised a taxation calendar for the year 2021. Specific highlight has been given to the filing dates of:

 

  1. Pay As You Earn (PAYE)
  2. National Health Insurance Fund (NHIF)
  3. National Social Security Fund (NSSF)
  4. Catering Levy
  5. Value Added Tax (VAT)
  6. Withholding Tax
  7. Excise Duty
  8. Standard Levy
  9. Rental Income Tax
  10. Installment Tax
  11. Self Assessment Tax Returns
  12. Agriculture Tax

The Tax Laws (Amendments) Act, 2020

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On Saturday 25th April 2020, the President of Kenya H.E. Uhuru Kenyatta was presented with 'The Tax Laws (Amendment) Bill, 2019', by the Speaker of the National Assembly: Justin Muturi, and Speaker of the Kenyan Senate: Ken Lusaka. The Bill was subsequently signed and assented into law. The now 'Tax Laws (Amendments) Act, 2020' aims to boost the Kenyan economy through various tax collections for the treasury. The Act within all clauses, has amended 6 previously existing laws. These are namely:
 

  1. Income Tax Act (CAP 470)
  2. Value Added Tax Act of 2013
  3. Excise Duty Act (2015)
  4. Tax Procedures Act (2015)
  5. Miscellaneous Levies and Fees Act (2016)
  6. Retirement Benefits Act, 1997

Inflationary Excise Duty Changes, 2020

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Date: 11/10/2020 - The Commissioner General (CG) of the Kenya Revenue Authority (KRA) has published Legal Notice No. 194 prescribing new specific rates of excise duty for various excisable products. The publication of the Legal Notice by the CG is in accordance with the provision of Section 10 of the Excise Duty Act, 2015 which gives the CG powers to adjust the specific rates of excise duty taking into account inflation.

Kenya's Response To The COVID-19 Pandemic

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In Kenya, H.E. Uhuru Kenyatta announced a countywide curfew (The Public Order Act, Legal Notice No.36) from 7 pm to 5 am starting Friday in response to the Covid-19 pandemic. A number of measures were announced on 25/3/2020 to help all Kenyans cope with the expected economic turmoil.

The Business Laws (Amendments) Act, 2020

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On Wednesday 18th March 2020, the President of Kenya H.E. Uhuru Kenyatta was presented with 'The Business (Amendment) Bill, 2019', by the Speaker of the National Assembly: Justin Muturi, and Speaker of the Kenyan Senate: Ken Lusaka. The Bill was subsequently signed and assented into law. The now 'Business (Amendments) Act, 2020' aims to boost the Kenyan economy through improved ease of doing business. The Act within its 43 clauses, has amended 16 existing laws. These are namely:

 

  1. The Law of Contract Act (Cap. 23)
  2. The Industrial Training Act (Cap. 237)
  3. The Registration of Documents Act (Cap. 285)
  4. The Survey Act (Cap. 299)
  5. The Income Tax Act (Cap. 470)
  6. The Stamp Duty Act (Cap. 480)
  7. The Kenya Information and Communication Act (No. 2 of 1998)
  8. The Occupational Safety and Health Act (No. 15 of 2007)
  9. The National Construction Authority Act (No. 41 of 2011)
  10. The Land Registration Act (No. 3 of 2012)
  11. The Public Finance Management Act (No. 18 of 2012)
  12. The Companies Act (No. 17 of 2015)
  13. The Business Registration Service Act (No.17 of 2015)
  14. The Insolvency Act (No. 18 of 2015)
  15. The Excise Duty Act (No. 23 of 2015)
  16. The Miscellaneous Fees and Levies Act (No. 29 of 2016)

Kenyan Taxation Calendar - 2020

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Anant Bhatt LLP has devised a taxation calendar for the year 2020. Specific highlight has been given to the filing dates of:

 

  1. Pay As You Earn (PAYE)
  2. National Health Insurance Fund (NHIF)
  3. National Social Security Fund (NSSF)
  4. Catering Levy
  5. Value Added Tax (VAT)
  6. Withholding Tax
  7. Excise Duty
  8. Standard Levy
  9. Rental Income Tax
  10. Installment Tax
  11. Self Assessment Tax Returns
  12. Agriculture Tax

The Kenyan Finance Act 2019 (FA2019)

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The Finance Act, 2019 (FA2019) has received assent by the President on 7th November 2019. The Act sets a number of foundational changes to the taxation collection measures in Kenya. The changes are in lieu with the government's Big Four Agenda. A number of changes have occurred in respect to:

 

  1. Income Tax 
  2. Excise Duty 
  3. VAT 
  4. Tax Procedures Act
  5. Customs Duty.

Amendments To The Companies Act (No.17) Of 2015 - Beneficial Ownership Regulations (2019)

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The President of Kenya, H.E Uhuru Kenyatta, in an attempt to battle corruption and other financial crimes, on 5 th July 2019, assented to Statute Law (Miscellaneous Amendments) Act No. 12 of 2019. The changes in the Companies Act, 2015 are related to sections 93 and 611 of the Act, thereby affecting beneficial ownership and take-over bids respectively.

The Kenyan Budget - 2019/20

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Anant Bhatt LLP has prepared a document setting out the scope set by the Government of Kenya in respect to the announced 2019/20 annual budget. The publication looks to cover a number of areas including:

 

  1. Kenya overview
  2. Budget allocations
  3. Income tax
  4. Corporate tax
  5. Value Added Tax (VAT)
  6. Excise duty
  7. Proposed income tax bill, 2019
  8. Tax procedure act changes
  9. Industry breakdown

Kenyan Taxation Calendar - 2019

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Anant Bhatt LLP has devised a taxation calendar for the year 2020. Specific highlight has been given to the filing dates of:

 

  1. Pay As You Earn (PAYE)
  2. National Health Insurance Fund (NHIF)
  3. National Social Security Fund (NSSF)
  4. Catering Levy
  5. Value Added Tax (VAT)
  6. Withholding Tax
  7. Excise Duty
  8. Standard Levy
  9. Rental Income Tax
  10. Installment Tax
  11. Self Assessment Tax Returns
  12. Agriculture Tax

Our Core Values

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Anant Bhatt LLP adheres to a strict code of core values. These values are what built the firm since its inception in 1949, and continue to guide us. Within the document, we outline to our stakeholders the key aspects we feel are valuable for a successful business relationship.

Firm Profile

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Welcome! Within our firm profile, we take you through the journey of who we are, and extensivly review what services we provide for our clients. The firm profile is the easiest way of getting to know us. 

CORE VALUES

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