PE Watch | Latest developments and trends, August 2023
Domestic law PE developments
Kenya introduces branch profits tax
On 26 June 2023, Kenya's Finance Act 2023 received presidential assent. One key provision in the Finance Act 2023 introduces a branch profits tax. Under this new tax, a 15% rate will be applied to profits that Permanent Establishments (PEs) repatriate to their head offices. The amount subject to this tax will be determined using a form…
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