Kenya to Launch Tax Amnesty

March 30, 2017 Taxation in Kenya

Kenyan tax amnestyNAIROBI – Kenya is offering a generous tax amnesty to local taxpayers, however, those skipping out on the offer will face investigation.

On March 28th the Deputy Commissioner of the Kenya revenue Agency James Ojee announced that the tax authority would be opening a tax amnesty to allow national tax payers to come clean about their hidden offshore wealth.

Kenyan taxpayers will now be offered the opportunity to file by December 31st 2017 the correct tax returns for the year ending December 31st 2016.

Taxpayers who make use of the tax amnesty to disclose their businesses, property, income and assets overseas, will enjoy a waiver for the taxes, interests and penalties for the years up, and including, to 2016.

Those who do not make use of the tax amnesty will face an investigation to determine the full extent of their taxes owed, and, subsequently, the penalties and interest which should be applied.
The government hopes that the tax amnesty will help bring in approximately KES 300 billion in extra tax revenues.

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