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Laws to minimise tax avoidance in Kenya
Kenya has passed a new law preventing foreign companies from using transfer pricing to avoid taxes, a process which is quite popular in the region.
The Tax Procedures Act allows the Kenya Revenue Authority (KRA) to investigate suspicion of pricing agreements and gives the authority rights to reverse any that appear to be structured for the purpose of avoiding taxation...
According to Oduor [of Cytonn Investments], the government is trying to work on that because the Kenya Revenue Authority is still struggling in terms of collecting revenue...
However he reckons that if clearing tax evasion in totally through the various jurisdictions, Kenya would need all countries to work together...