EYEY

PE Watch | Latest developments and trends, August 2023

|Tax Alerts, Information Reporting, Legis ...|United States
United States

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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