The Kenya Revenue Authority (KRA) has called on Kenyans to weigh in on a series of draft income tax rules that promise to shape the future of taxation in the country.
Unveiled by the Commissioner General on behalf of the National Treasury, the proposed regulations aim to streamline tax compliance, enhance administration, and address gaps in existing policies.
The expansive draft includes key reforms such as:
• Pay As You Earn (PAYE) Rules, 2024
• Advance Tax Rules, 2024
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• Withholding Tax Rules, 2024
• Guidelines on Allowability of Bad Debts, 2024
• Retirement Benefit Rules, 2024
• National Social Security Fund (NSSF) Exemption Rules, 2024
• Tax Procedures (Distraint) Rules, 2024
• Leasing Rules, 2024
• Registered Collective Investment Schemes Rules, 2024
• Declarations of Crops • Prescribed Limit of Medical Benefit
These drafts, crafted under the Statutory Instruments Act, Cap. 2A, are now open for public scrutiny, with KRA urging stakeholders, professionals, and citizens to submit their feedback by November 22, 2024.
"Please channel your submissions to the Commissioner General, Kenya Revenue Authority, P.O Box 48240-00100, Nairobi or by email to [email protected] to be received on or before November 22, 2024," reads the notice.
The documents are available for download on the KRA website, ensuring accessibility to all interested parties.
From tax compliance for crops to medical benefits, the drafts touch on diverse aspects of Kenya’s economy, signalling the government’s intention to tighten regulatory frameworks while fostering inclusivity in decision-making.
This initiative reflects the authority’s commitment to transparency and collaboration in refining the tax landscape, with the public’s input pivotal in shaping policies that impact businesses and individuals alike.
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