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Every year, the budget process in Kenya culminates in the enactment of a finance act. For the FY 2015/2016, the Finance act was assented to on 11th September 2015 by His Excellency the President and provides the legislative framework pertaining to taxes, duties, exemptions and reliefs for this fiscal year.
This update aims to highlight the amendments the Finance act introduces to various tax statutes, as well as the changes to the Kenya tax regime in order to educate professionals on the implications for both business and the economy.