KRA’s tough rules for trade across borders to boost taxes

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Times Tower in Nairobi, the headquarters of Kenya Revenue Authority (KRA). FILE PHOTO | NMG

The government has set sights on cross-border transactions as it targets sealing loopholes that allow firms to pay less than their fair share of taxes.

In a public notice, the Kenya Revenue Authority (KRA) says companies in Kenya with transactions involving non-resident persons will disclose the deals, including the nature and amount paid on the iTax platform.

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Note: The results are not exact but very close to the actual.