VAT
The Kenya Revenue Authority (KRA) plans major changes to the Value Added Tax Act by scrapping the KSh5 million annual turnover threshold for VAT registration. This would require all businesses, including micro-enterprises, to charge 16% VAT on taxable goods and services and remit it monthly to KRA. The authority claims it will widen the tax base and boost collections from KSh653 billion to over KSh1 trillion.
Rapportert av AI
Rasha Abdel Aal, head of the Egyptian Tax Authority, announced the release of a comprehensive guide detailing the tax treatment of exported services. The manual clarifies the definition of these services under the Value Added Tax Law and its regulations, outlines taxation location rules, and specifies required documentation. It also features practical examples for common VAT applications.