Newsroom

5 May 2023

Overview of the Finance Bill, 2023

The Finance Bill, 2023 was presented in Parliament on Thursday, 4th May 2023. This newsletter covers the economic highlights of the proposed budget and tax changes as follows:

11 April 2023

DEREGISTRATION/DISSOLUTION OF A LIMITED LIABILITY PARTNERSHIP

Did you know that you cannot deregister a Limited Liability Partnership at the moment? The Limited Lability Partnership Act, 2011 does not have enabling provisions for deregistering a Limited Liability Partnership.

4 April 2023

Tax Alert- Determination of the cost of acquisition of Inherited Property for Capital Gains Tax purposes

Summary

2 March 2023

Did you know?- Business Combination (IFRS 3)

RSM ACCOUNTING SERIES: BUSINESS COMBINATION (IFRS 3) Did you know that: IFRS 3 only applies to transactions between entities that are not under common control wherein an acquired group of assets and liabilities meets the definition of a business.

7 February 2023

Judgement of the High Court of Kenya in matters challenging The Finance Act, 2022

Background

5 December 2022

Tax Alert - Minimum Tax Declared Unconstitutional in Kenya

The Court of Appeal through the determination of the CIVIL APPEAL NO. E591 OF 2021 upheld the judgment of the High Court of Kenya at Machakos on 20 September 2021 that declared minimum tax unconstitutional. Background

21 November 2022

Internal audit reviews

A business needs to see itself through a big mirror – Internal audit reviews Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

9 November 2022

Transfer Pricing Alert - Country-by-Country Reporting Requirements in Kenya

Multinational Enterprise Groups (MNEs) operating in Kenya, with a combined annual turnover of 95 billion Kenya shillings (c. USD 800 million) are required to file the following for the year of income 2022 and subsequent years:

26 July 2022

Reorganization of company’s share capital

Share capital reduction Capital reduction is the process of reducing the share capital of a company. Section 407 of the Companies Act, 2015 highlights the main reasons for share capital reduction i.e.

22 July 2022

Transfer Pricing Changes Introduced by the Finance Act, 2022

The Finance Act, 2022 (“the Act”) which was gazetted on Friday, 8th July 2022 has introduced key changes in the transfer pricing (TP) regulatory framework in Kenya which will have extensive implications for taxpayers in Kenya.

15 July 2022

RSM Kenya Tax Guide 2022/2023

Download Here: RSM Kenya Tax Guide 2022/2023