Kenya Clarifies Taxation of Untaxed Profits Distributed as Dividends
The Kenya Revenue Authority (KRA) released on 8 February 2019 a notice clarifying the new measure introduced as part of the Finance Act 2018 for the taxation of untaxed profits distributed as dividends. The measure is included in a new section 7A of the Income Tax Act, which provides that where a dividend is distributed out of gains or profits on which no tax is paid, the company distributing …
Continue Reading