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Important Developments Regarding Disclosure Of The Beneficial Ownership Of Companies In Kenya
Background The Statute Law (Miscellaneous Amendment Act) 2019 (SMAA) amended the Companies Act (No. 17 of 2015), Laws of Kenya (the Companies Act) to require all companies to introduce a register of beneficial owners. In order to give effect to the amendment the Government enacted the Companies (Beneficial Ownership Information) Regulations, 2020 (the Regulations) as subsidiary legislation [...]
Kenya Enacts Significant Tax Measures For 2021
Kenya Enacts Significant Tax Measures For 2021 Executive Summary On 23 December 2020, the Kenyan President assented to the Tax Law Amendment Act (No.2) of 2020 (the Act). The Act amends the Income Tax Act and the Value Added Tax (VAT) Act of Kenya. The key amendments made through the Act include the reinstatement of: (i) the resident corporate income tax [...]