Income Tax Act Stories

Firms will only be able to deduct 50 per cent of the amount in the first year, with the remaining 50 per cent claimed in two equal instalments of 25 p...

The adjustment reflects KRA’s efforts to align with CBK’s monetary policy and pass on the benefits of lower market interest rates to taxpayers.

In a notice, the authority said the change is outlined in the current stipulations of the Income Tax Act.