Kenya Gazettes 2024 Tax Law (Amendment) Bill (Corrected)

The Kenyan Official Gazette Nov. 8 published Bill No. 47, the 2024 Tax Laws (Amendment) Bill. The bill includes measures to: 1) replace the 1.5 percent digital service tax with a 3 percent significant economic presence tax; 2) impose an additional minimum top-up tax on multinational enterprises (MNEs) with effective tax rates below 15 percent and at least 100 billion Kenyan shillings (US$773 million) in annual consolidated turnover; 3) allow income tax deductions for the affordable housing levy and contributions to post-retirement medical funds of up to 15,000 shillings (US$116) per month; 4) increase deductions for public pension and individual ...