Taxation

The Kenya Revenue Authority (KRA) has set the market interest rate for fringe benefit tax and deemed interest at 8% for April to June 2026. The notice, dated Friday, April 10, urges employers to update their systems promptly. This adjustment reflects routine quarterly reviews of market rates.

April 10, 2026 Reported by AI

The Kenya Revenue Authority (KRA) revealed that only two in five of the country's 20.2 million registered taxpayers are active. This has led to a Ksh982 billion tax collection gap. Officials cited challenges in the informal sector and under-reporting.

The Kenya Tourism Fund has upgraded its eLevy portal to simplify remittance of the 2% Tourism Levy for hospitality businesses. This move aims to improve compliance and reduce administrative burdens. Businesses are urged to update their details immediately.

March 03, 2026 Reported by AI

In Abuja, Wale Edun, the minister of finance and coordinating minister of the economy, signed the presumptive tax regulations framework on Tuesday. This step signals the federal government's initiation of full tax law implementation.

Building on reforms announced in late 2025 to curb LOA misuse, the Bureau of Internal Revenue (BIR) has launched the Letter of Authority (LOA) Verifier. This digital tool, accessible via the BIR's chatbot REVIE, allows taxpayers to verify LOA authenticity, enhancing transparency and protecting against unauthorized tax audits.

February 19, 2026 Reported by AI

The French Constitutional Council validated nearly all of the 2026 finance bill on February 19, censoring only eight minor provisions and issuing reservations on two others. This includes approval of the holding tax despite Prime Minister Sébastien Lecornu's referral, allowing President Emmanuel Macron to promulgate the law after the National Assembly's adoption earlier in February.