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All you need to know about Turnover Tax & Presumptive Tax
There has been quite a bit of a buzz about taxation in Kenya on the internet, especially towards the end of 2020. The proposed The Tax Laws (Amendment) Act, 2020, comes into effect on the 1st of January 2021 after receiving presidential assent. After receiving the...
Companies (Beneficial Ownership Information) Regulations, 2019
Introduction The Companies Registry has introduced a mandatory requirement for all companies to keep and maintain a register of Beneficial Owners of the company effective 13th October 2020, as stipulated in Section 93 of the Companies Act 2015. As per the Companies...
Certified Company Secretaries: Does your company need one?
Company Secretaries are a legal requirement for to operate a business in Kenya. This is outlined in Chapter 534 of the laws of Kenya. This position is set out by Kenyan law to fulfill compliance matters required for any company to be in business. What do Company...
3 Things you probably didn’t know about the Companies’ Act 2015, Kenya
The Companies’ Act was reviewed in line with vision 2030. The government of Kenya set out to constantly promote establishment and operation of businesses. In addition to other laws and regulations, The Companies’ Act 2015 was put in place to streamline the ease of...
I.T. in Governance? Why Not?
Over the years we have all seen the massive transformation in all facets of our lives driven by Information Technology (IT). The rate at which new IT innovations are sprouting appears to render the most recent technologies obsolete within a year. Take for example the...
The Company Seal: Why every company needs it!
What is a Company Seal? A Company being an artificial person cannot sign documents. The law has provided for the use of a common seal, with the name of company engraved on it, as a substitute for its signature. No document issued by the Company shall be binding on it...
Nominated Advisors (NOMADS): Who are they and why do you need them?
Nominated Advisors are something you might come across If you’ve been in business for a long time. If your business has been consistently profitable, you may want to list on the Nairobi Stock Exchange. There could be so many reasons you’d want to be listed in the...
Ease of doing business in kenya
The Business Laws (Amendment) Act 2020 The business laws (amendment) bill, 2019 received the President’s assent on 18th March 2020 and was published in the Kenya gazetteer vide gazette notice number 26 of 2020. The act was aimed at making amendments to various laws...
Understanding the 2020 amendments to Kenya’s income tax laws
The Income Tax Laws (Amendments) Bill 2020 was published on 30th March 2020. The Bill proposes amendments to Kenyan tax laws. Among the affected acts include: The Income Tax Act (CAP 470), the Value Added Tax Act, 2013, the Miscellaneous Fees and Levies Act, 2015 and...