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Kenya Overview

The Economy of Kenya is a market-based economy with a private sector external trade system and a few state enterprises. Major industries include agriculture, forestry, fishing, mining, manufacturing, energy, tourism and financial services. As of 2020, Kenya had the third largest economy in Sub-Saharan Africa, coming behind Nigeria and South Africa. The government of Kenya is generally investment-friendly and has enacted several regulatory reforms to simplify both foreign and local investment, including the creation of an export processing zone. An increasingly significant portion of Kenya's foreign financial inflows are remittances by non-resident Kenyans who work in the US, Middle East, Europe and Asia.

 

In 2020, Kenya ranked 56th in the World Bank ease of doing business rating, up from 61st in 2019 (of 190 countries). Compared to its neighbors, Kenya has a well-developed social and physical infrastructure.

 

Kenya's taxation system covers income tax, value-added tax, customs and excise duty. The regulations are governed by independent legislators that govern the taxation system, the main legislator, the Kenya Revenue Authority (KRA) has different sections that deal with taxes while also having the authority to undertake reviews on various companies and corporations.


Tax Calendar - 2021

Find the filing details for 2021 below:

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Corporate Income Tax (CIT) Rates

Resident = 30% (from 1/1/2021 onwards)

Non-Resident = 37.5%


Corporate Income Tax (CIT) Due Dates

  • CIT Return Due Date = Within 6 months following a company’s financial year end.
  • CIT Final Payment Due Date =  Within 4 months of the company’s financial year end.
  • CIT Estimated Payments Due Date = Instalment tax payments of 25% each must be made during the year on the 20th of the 4th, 6th, 9th and 12th month of the company’s financial year.

Personal Income Tax (PIT) Rates

  • Headline PIT Rate = 30%

Personal Income Tax (PIT) Due Dates

  • PIT Return Due Date = 30th June
  • PIT Final Payment Due Date = 30th April
  • PIT Estimated Payment Due Date = 4 Instalments of 25% each (by 20 April, 20 June, 20 September, and 20 December).

Value Added Tax (VAT) Rates

  • Standard VAT Rate = 16%

Withholding Tax (WHT) Rates

(Payable on dividends/interest/royalties)

 

  • Resident = 5/10% to 25/5% 
  • Non-Resident = 15/15% to 25/20%

Capital Gains Tax (CGT) Rates

  • Headline Corporate CGT Rate = 5%
  • Headline Individual CGT Rate = 5% 

TAX SUMMARY

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