The Finance Act 2022 introduced a 15% withholding tax on income from financial derivatives contracts earned by a non-resident person through an amendment to Section 3(2) of the Income Tax Act, Cap 470. This amendment takes effect from 1st January 2023.
Kenya Revenue Authority informs members of the public that draft Income Tax (Financial Derivatives) Regulations, 2022, have been developed and a copy has been posted on the KRA website. You may download the same for your reference
In compliance with the Statutory Instruments Act, the The Commissioner General on behalf of the Cabinet Secretary, the National Treasury and Planning invites interested members of the public and stakeholders to submit their inputs and comments for consideration in the development of the Income Tax (Financial Derivatives) Regulations, 2022.
Please channel your submissions to the Commissioner General, Kenya Revenue Authority, P.O Box 48240-00100, Nairobi or by email to firstname.lastname@example.org to be received on or before 30th November 2022.