Kenya Lower House Considers 2024 Tax Law Amendment Bill

The Kenyan lower house of Parliament (National Assembly) Nov. 4 accepted for consideration Bill No. 47, The Tax Laws (Amendment) Bill, 2024. The bill includes measures that would: 1) replace the 1.5 percent digital service tax with the 6 percent significant economic presence tax; 2) introduce an additional minimum top-up tax of less than 15 percent for multinational enterprises (MNEs) with annual turnover of 100 billion Kenyan shillings (US$772 million); 3) allow deductions for affordable housing levy and for contributions of 15,0000 shillings (US$116) per month made to a post-retirement medical fund; 4) increase the deductible pension and individual retirement ...