Nairobi — The Kenya Revenue Authority (KRA) has announced the development of a comprehensive set of draft statutory instruments aimed at refining the country’s tax framework.
The draft rules include the Income Tax (Pay As You Earn) Rules, 2024; the Income Tax (Advance Tax) Rules, 2024; the Income Tax (Withholding Tax) Rules, 2024; the Income Tax (Guidelines on Allowability of Bad Debts Guidelines), 2024; the Income Tax (Retirement Benefit) Rules, 2024; and the Income Tax (National Social Security Fund) (Exemption) Rules, 2024.
Also proposed are the Tax Procedures (Distraint) Rules, 2024; the Income Tax (Leasing) Rules, 2024; the Income Tax (Registered Collective Investment Schemes) Rules, 2024; Income Tax – Declarations of Crops; and Income Tax – Prescribed Limit of Medical Benefit.
The taxman in a notice to the public called on Kenyans to share their views with its commissioner, General Humphrey Wattanga.
“In compliance with the same Act, the Commissioner General, on behalf of the Cabinet Secretary, the National Treasury and Economic Planning, invites interested members of the public, professionals and stakeholders to submit their inputs and comments for consideration in finalizing the Rules,” read the notice in part.
KRA has emphasised its commitment to fostering public participation in shaping tax policy, encouraging individuals, professionals, and stakeholders to review the drafts and provide feedback.
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Publish date : 2024-12-09 06:37:30
