Browsing: 1% minimum tax

Kenyan businesses can now heave a sigh of relief after court has finally granted an injunction on minimum tax case.

In January this year, eight business associations representing the business community in Kenya have come together to call for the abolishment of the 1 per cent minimum tax introduced by the government. 

The new bill which was to take effect on 1^st  January this year was introduced through the Finance Bill, 2020 (the Bill). 

The bill was tabled in the National Assembly for debate and approval on 6 May 2020. This was a departure from previous years where finance bills would be introduced to the National Assembly after the reading of the national budget in June. This change was necessitated by recent constitutional interpretations issued by the court which barred the government from collecting taxes before the relevant tax provisions are approved by the …