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Kenya: Revised Finance Bill 2018 enacted; VAT on petroleum products

Kenya: Revised Finance Bill 2018 enacted

The National Assembly in late September 2018 approved the Finance Bill, 2018 pursuant to a “memorandum of changes” from the president. Kenya’s president then assented to and signed the revised Finance Bill, 2018 on 21 September 2018.

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The revenue measures in the legislation include:

  • Introduction of value added tax (VAT) on petroleum products
  • Excise tax (duty) on telephone and data services and fees charged by financial institutions
  • Levy of housing contributions by employers and employees
  • Measures on taxation of gaming, betting, and lottery companies
  • Reinstatement of an excise tax on sugar confectionery products 

 

Read a September 2018 report [PDF 297 KB] prepared by the KPMG member firm in Kenya

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