Tax Alert

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Regulatory Alert Draft Financial Markets Conduct Bill, 2018 Analysis

The alert is structured according to the tax heads and sectors affected and provides an insight on how the changes introduced could impact your business.

In this issue:

The National Treasury of the Republic of Kenya released the draft Financial Markets Conduct Bill, 2018 (“FMCB”) for comments by stakeholders. The aim of the FMCB is to create effective financial consumer protection, make credit more accessible and harmonize the conduct of financial service providers.

Tax Alert -The Special Economic Zones Act.

With the view of establishing Kenya as the pre-eminent business hub in the region, the President on 11th September 2015 assented to the Special Economic Zones Act, 2015 (“SEZA” or “the Act”) which provides for the establishment of special economic zones (SEZs) in Kenya. The Act will come into operation on 15th December, 2015. Licensed entities under the SEZA will be able to benefi t from tax incentives which include income tax exemptions, value added tax exemptions, customs and excise exemptions and work permit quotas amongst others.

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