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  • Create Date July 8, 2021
  • Last Updated April 19, 2022

Key Highlights of Finance Act, 2021

The Finance Act, 2021 (the Act) was signed into law by the President on 29 June 2021 and thereafter gazetted on 1 July 2021. Most of the changes brought about by the Act are aimed at streamlining the tax amendments that were introduced in 2020 and filling the gaps in the tax laws. Some other enactments appear to be reactions by the Kenya Revenue Authority (KRA) to the recent spate of disputes that it has lost at the Tax Appeals Tribunal and the High Court, e.g the taxation of export of services which has been litigated in several cases and has now been amended to deny taxpayers refund of input VAT. In this Alert, we provide a detailed analysis of the Tax changes brought about by the Finance Act, 2021, and their tax impact to taxpayers.