Kenya President

Sourced from Phys.org. Kenyan President Uhuru Kenyatta has approved the 2020 Finance Bill, proposing amendments to multiple statutes including the Income Tax Act, the Value Added Tax Act of 2013, the Excise Duty Act of 2015 and the Tax Procedures Act of 2015. The most notable aspect of the approval of this new bill is the foundation of the Digital Services Tax. This new bill will see the introduction of a digital tax at 1.5% the gross value of any online transaction. Taxing online transactions What this means is that people whose income is from the “provision of services and products” sourced through the digital marketplace will have to pay the tax. What’s more, the digital service tax will be payable at the time of transfer of payment to service providers. /* custom css */ .tdi_3_ecc.td-a...