Digital ride-hailing platforms Bolt and Uber have warned they would be forced to close their operations in Kenya due to unsustainable operational costs, if Parliament approves the Treasury proposals to impose a six percent Significant Economic Presence Tax (SEP) on gross turnover for non-resident firms.
SEP is meant to tax income generated by multinationals that have a substantial economic presence in Kenya – even if they don't have a physical presence in the country.
