Sharp Daily
No Result
View All Result
Wednesday, October 8, 2025
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
Sharp Daily
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team
No Result
View All Result
Sharp Daily
No Result
View All Result
Home News

Ruto Assures Investors of a Predictable Tax Regime

Dennis Otsieno by Dennis Otsieno
March 31, 2023
in News
Reading Time: 2 mins read
KRA's Digital Service Tax

KRA [Photo/Courtesy]

Speaking during the American Chamber of Commerce business summit in Nairobi on Thursday 30th, President Ruto said the government is committed to creating a conducive environment for businesses to operate.

Furthermore, the head of state assured investors of a more predictable tax regime noting private sector players make long-term investments decisions in an environment with predictable policies, among them tax policies.

Read: President Ruto in Europe for Trade Talks

The president announced a three-year cycle on changes in taxes, doing away with the traditional changes that have in the past come with the Finance Bill each financial year.

RELATEDPOSTS

Lessons from KRA’s VAT turnaround

June 12, 2025

Seven deals to propel Kenya’s economic growth

April 28, 2025

“This policy that will enhance transparency in our tax regime will take effect by June 2023 and will now be in place for a minimum of three years,” Ruto said.

The government will also review Digital Services Tax and align it with the two-pillar solution currently being developed by the Organization for Economic Cooperation and Development (OECD) inclusive framework.

Read: KShs 802 million to buy cars for Ruto, Rigathi and Mudavadi

Value Added Tax on exported services will also be removed in the Finance Bill, in the coming budget, in June this year.

Also, effective June 2023, all verified tax refund claims will be payable within six months.

“If for whatever reason a refund is not made by the Kenya Revenue Authority within this period, the taxpayer can offset their claim against future tax liability, without further application to KRA,” Ruto said.

Both local and foreign investors have in the past decried an unpredictable tax regime in the country which has affected long term investment decisions.

The head of state said Kenya is open for business, noting the government is keen to ensure policies and institutional framework is designed to make the country the most competitive investment destination in the region.

Email your news TIPS to editor@thesharpdaily.com

Previous Post

The Essence of a Young Population in Any Economy

Next Post

Volatile Inflation Likely to Hinder Kenya’s Economic Growth

Dennis Otsieno

Dennis Otsieno

Related Posts

News

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025
News

Argentina’s crisis and Kenya’s lessons on political economy and market confidence

September 25, 2025
News

Kenya’s financial system remains stable but faces rising risks

September 25, 2025
News

Where do Kenyan stock returns come from? A napkin framework

September 19, 2025
News

September snapshot: CMMF yields 13.12% as month unfolds

September 5, 2025
Private equity investment business concept
News

Private equity and insurance

September 4, 2025

LATEST STORIES

The economic and environmental gains of Kenya’s LPG shift

October 8, 2025

Equities, Bonds, or Fixed Deposits?

October 7, 2025

Kenya’s Inflation is creeping up, What it means for investors

October 7, 2025

The Role of Micro-Pensions Plans in Kenya

October 3, 2025

Understanding the link between international aid and cooperative finance stability in Sub-Saharan Africa

October 3, 2025

Kenya Pipeline Company IPO

October 3, 2025

Kenya Q2’ 2025 GDP growth accelerates to 5.0%

October 3, 2025

Kenya’s Regulated SACCOs Cross Trillion Shilling Mark

October 2, 2025
  • About Us
  • Meet The Team
  • Careers
  • Privacy Policy
  • Terms and Conditions
Email us: editor@thesharpdaily.com

Sharp Daily © 2024

No Result
View All Result
  • Home
  • News
    • Politics
  • Business
    • Banking
  • Investments
  • Technology
  • Startups
  • Real Estate
  • Features
  • Appointments
  • About Us
    • Meet The Team

Sharp Daily © 2024