Legal Alert: Changes Brought About By The Finance Act, 2023

The Finance Act, 2023 (the “Act”) was assented to by the President a couple of days ago. It is
important to highlight that the Finance Bill, 2023 (the “Bill”) had proposed some changes which were, however, dropped during the parliamentary sessions.

The Act introduces immense changes to tax and other laws most of which take effect on 1 July,
2023. In light of the far-reaching effects of the Act, a petition (the “Petition”) was filed in the High Court of Kenya at Nairobi to stop the implementation of certain provisions of the Act (the effective dates for those provisions are highlighted in green). A conservatory order was consequently issued on 30 June, 2023. The matter will be mentioned on 5 July, 2023.

In this bulletin, we discuss the changes introduced by the Act and highlight what they mean to taxpayers.

Read more in this link, if not responsive copy and paste it on a new tab https://wamaithagichambaadvocates.com/file_download/%2059582_Tax_Alert_Finance_Act,_2023.pdf