Some take away points from President Ruto's speech at the 2024 Tax Payers' Day.
First & very important
· The President says GOK is putting together "a consortium of both local & international technology providers" to address issues of digitisation of tax administration & compliance in the country
· He made reference to Finance Act 2023's amendment to the Tax Procedures Act introducing Sec59A on the set up of a Data Management & Reporting System by KRA
· KRA has begun reaching out to companies for system-to-system integration for real time relay of information. In the first phase, 107 entities are targeted
· I have said it here before that the import of the Supreme Court judgement on Finance Act 2023 was not so much on setting aside the Court of Appeal's nullification but providing a 'guide book' on public participation going forward
· The President spoke about this issue
· That clean up of the 1st & 2nd Schedules of the VAT Act is coming & has indeed been captured in the National Treasury's Explainer on the coming Tax Laws (Amendment) Bill
· We can expect bread to be a casualty in the zero-rating clean up
Some take away points from President Ruto's speech at the 2024 Tax Payers' Day.
First & very important
· The President says GOK is putting together "a consortium of both local & international technology providers" to address issues of digitisation of tax administration & compliance in the country
· He made reference to Finance Act 2023's amendment to the Tax Procedures Act introducing Sec59A on the set up of a Data Management & Reporting System by KRA
· KRA has begun reaching out to companies for system-to-system integration for real time relay of information. In the first phase, 107 entities are targeted· I have said it here before that the import of the Supreme Court judgement on Finance Act 2023 was not so much on setting aside the Court of Appeal's nullification but providing a 'guide book' on public participation going forward
· The President spoke about this issue· That clean up of the 1st & 2nd Schedules of the VAT Act is coming & has indeed been captured in the National Treasury's Explainer on the coming Tax Laws (Amendment) Bill
· We can expect bread to be a casualty in the zero-rating clean up· & then finally there was this swipe to someone. Wueeeh, just how bitter was this fallout?
Ends!
yes
Some take away points from President Ruto's speech at the 2024 Tax Payers' Day.
First & very important
· The President says GOK is putting together "a consortium of both local & international technology providers" to address issues of digitisation of tax administration & compliance in the country
· He made reference to Finance Act 2023's amendment to the Tax Procedures Act introducing Sec59A on the set up of a Data Management & Reporting System by KRA
· KRA has begun reaching out to companies for system-to-system integration for real time relay of information. In the first phase, 107 entities are targeted ... · I have said it here before that the import of the Supreme Court judgement on Finance Act 2023 was not so much on setting aside the Court of Appeal's nullification but providing a 'guide book' on public participation going forward
· The President spoke about this issue ... · That clean up of the 1st & 2nd Schedules of the VAT Act is coming & has indeed been captured in the National Treasury's Explainer on the coming Tax Laws (Amendment) Bill
· We can expect bread to be a casualty in the zero-rating clean up ... · & then finally there was this swipe to someone. Wueeeh, just how bitter was this fallout?
Ends!
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