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Is your organisation prepared to navigate the complexities of tax law changes?
Tax regulations often change on short notice, so businesses need accounting and tax software that can be adjusted quickly and with minimal disruption. This
The Kenyan tax landscape in 2024 has underscored the need for corporations to develop mechanisms to navigate frequent tax law changes and introduction of new levies amidst ongoing economic challenges. Within months, tax laws were enacted, suspended, withdrawn, and reinstated. Before we discuss how to manage these uncertainties, let us review some recent developments.
The Finance Bill, 2024, introduced multiple tax changes but faced significant opposition from Kenyans. Although businesses were expected to adjust their accounting and tax systems in anticipation of the new Act, the president declined to sign the Bill into law following protests, led by Gen Z activists.
