Kenya Treasury Seeks Comments on Draft National Tax Policy

The Kenyan National Treasury July 8 opened a consultation on a draft national tax policy. The draft policy includes measures that would: 1) provide the basis for the development of tax laws including income tax, VAT, and excise tax; 2) guide stakeholders and investors on tax-related matters; 3) establish the framework granting tax incentives and concessions to various sectors; 4) allow a general VAT rate and a preferential rate of not less than 25 percent of the general VAT rate; 5) list VAT exemptions granted to specific sectors; 6) allow a standard corporate tax rate and a preferential rate of …