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Thursday, November 21, 2024

Ruto’s Government Proposes Higher Digital Tax.

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Kenya’s government has proposed a 6% Significant Economic Presence Tax (SEPT) to broaden the tax base on digital services, including ride-hailing platforms, digital food delivery companies, and online freelance jobs.

The new 6% rate would apply to non-resident entities earning income through digital marketplaces in Kenya, ensuring foreign companies generating revenue through digital services are taxed equitably and aligning with international standards.

The SEPT aims to boost revenue collection from the expanding digital sector. The proposed legislation also includes a Minimum Top-Up Tax to address tax base erosion among multinational enterprises (MNEs), setting a minimum effective tax rate of 15% for companies with a consolidated annual turnover exceeding 100 billion shillings.

Companies paying less than this rate will be required to top up their tax contributions.

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