Executive Summary
On 30th April 2026, the Cabinet Secretary John Mbadi tabled the Finance Bill 2026 before the National Assembly.
Before its tabling, there was significant curiosity from both taxpayers and tax professionals around the Bill’s position on Kenya’s increasingly data-driven tax enforcement -particularly the expansion of ETIMs, AI-assisted tools such as KRA’s chatbot “Shuru ”.
At first glance, the Bill is not primarily a ‘tax rate increase’ Bill. Instead, it appears to be tightening the enforcement framework to aid in tax collection. If enacted in its current form, the proposal will have immediate implications for compliance obligations, transactional structuring, cash flow management and tax risk exposure across multiple sectors.
From our reading, three themes emerge from this Bill:-
- The legislative override of adverse court decisions, particularly closing the definitional loopholes in software payments, the Dynasoft Case – which we acted on!, interchange fees; Supreme Court Judgment – Barclays Case, and issuance of agency notices; Katahira Engineers Case, that courts have ruled in favour of taxpayers.
- The expansion of the tax base through the formal capture of digital platforms and offshore value chains to curb tax avoidance through structures, and
- Third, increased reliance on data-driven enforcement and reporting systems, a foundational shift in determining tax liability through taxpayers’ digital and financial footprint.
To give you as much value, we have prepared 2 issues. In Issue 1, we cover the following sectors:- General Mwananchi Provisions, Financial Services – Fintech & Banking, General Corporate, Employment & Multinationals and Real Estate, Property & Construction.
In Issue 2, we cover the following sectors:- E-mobility, Transport & Aviation, Manufacturing, Heavy Industry & Scrap Metal, Gaming, Betting & Lotteries, Specialized sectors and Cross Industry Impacts.
Finance Bill 2026: Tax Alert Issue 2
Sector 1 – General Mwananchi Provisions
The Bill introduces a structural transition from reactive, manual audits to proactive, algorithmic, data-driven tax collection. Crucially, the Bill executes a stealthy but aggressive cleanup of procedural loopholes.
An Analysis of the Explicit Deletions and Repeals
(What was removed from the law, and why it matters to you)
Extension of the Tax Amnesty (Clauses 46)
The Proposed Shift & Rationale: Clause 46 proposes extending the waiver of penalties and interest under the Tax Amnesty Program to December 2025, payable by December 2026.
The Commercial Exposure: The amnesty extension will provide a vital safety net for companies holding legacy tax liabilities.
Recommended Actions: Once passed into law, initiate amnesty applications to permanently clean up ledgers. If reactivating dormant subsidiaries, conduct rigorous legal due diligence to uncover any “ghost” tax liabilities tied to the reinstated Personal Identification Number.
Unrestricted Bank Freezes /Agency Notices (Clause 48)
The Proposed Shift & Rationale: Proposes that the Kenya Revenue Authority can freeze your accounts even if you are actively appealing a Tribunal decision.
The Commercial Exposure: Weaken the appellate process by exposing taxpayers to immediate enforcement, before the dispute is conclusively determined by the courts.
Recommended Actions: Businesses should consider early litigation preparedness, cashflow contingency planning and enhanced documentation and audit reference framework
Removal of ‘Registered Person’ threshold in VAT invoicing (Clauses 29)
The Proposed Shift & Rationale: The proposed amendment to Section 42 of the VAT Act seeks to remove the phrase ‘registered person’ in relation to the issuance of VAT invoices.
The Commercial Exposure: Under the current framework, only registered persons may issue a VAT invoice. Registration is for taxpayers whose annual turnover exceeds Kshs. 5M. The proposed wording eliminates the need for ‘registration’. Therefore, VAT invoices may no longer be limited to VAT-registered taxpayers.
Recommended Actions: This will greatly increase the cost of doing business for SMEs and impose additional administration and compliance costs for businesses previously outside the VAT net.
Auto-Assessments (Clauses 45, 51, 55)
The Proposed Shift & Rationale: Clause 51 amends Section 75 of the Tax Procedures Act, legally empowering the Kenya Revenue Authority to use its Information Technology systems to generate pre-populated tax returns based on third-party data. Clause 45 inserts a new Section 29A into the Tax Procedures Act, legally mandating the Kenya Revenue Authority to issue automatic tax assessments derived from that same data (electronic Tax Invoice Management System, bank integrations).
The Commercial Exposure: The proposal would flip the burden of proof entirely to the taxpayer, meaning the KRA could issue tax liabilities before filings are submitted.
Recommended Actions: Invest heavily in tax-technology integration to automatically reconcile your internal Enterprise Resource Planning ledgers against the Kenya Revenue Authority’s digital footprint (electronic Tax Invoice Management System data) every month to avoid end-of-year shock assessments.
The Accelerated Filing Deadlines (Clauses 19, 20)
The Proposed Shift & Rationale: Clauses 19 and 20 propose to aggressively shrink the timeline for submitting income tax returns and self-assessments from June to April. Equally, “Nil” returns are proposed to be due within one month.
The Commercial Exposure: Companies will potentially lose two critical months previously used for financial closing, external auditing, and tax provisioning. Submitting a Nil return late will also potentially trigger immediate, unavoidable penalties within thirty days of the year-end.
Recommended Actions: Companies and individuals should start making plans in anticipation.
Electronic Tax Invoice Management System “Show Cause” Shields & System Waivers (Clauses 53, 54)
The Proposed Shift & Rationale: Addressing massive business pushback. Clause 53 proposes to repeal and replace Section 86 of the Tax Procedures Act, removing immediate electronic Tax Invoice Management System penalties and introducing a formal “show cause” mechanism before a penalty is levied.
Clause 54 further seeks to amend Section 89 of the Tax Procedures Act, allowing the Commissioner to waive penalties up to two million shillings if the default was caused strictly by a Kenya Revenue Authority electronic system malfunction.
The Commercial Exposure: While providing a legal shield against unfair Kenya Revenue Authority Information Technology failures, failing to successfully defend a “show cause” notice will trigger penalties of up to double the tax due or one hundred thousand shillings.
Recommended Actions: Establish an internal protocol to instantly log and screenshot Kenya Revenue Authority system downtimes to use as legal evidence when drafting “show cause” defences.
Value Added Tax Mechanics: Input Clawbacks & Invoicing (Clauses 28, 29, 30)
The Proposed Shift & Rationale: Clause 28 seeks to insert Section 17A into the Value Added Tax Act, dictating that if a registered person’s taxable supplies suddenly become tax-exempt, they must immediately pay back the input tax previously claimed on unsold inventory.
Clause 30 seeks to amend Section 42 of the Value Added Tax Act to dictate that an invoice showing Value Added Tax can only be issued for a strictly taxable supply.
The Commercial Exposure: Businesses holding large inventories that face legislative reclassification to “exempt” status will likely face a sudden “phantom” cash outflow to repay the Kenya Revenue Authority for input Value Added Tax already absorbed into working capital.
Recommended Actions: Supply Chain and Finance teams must actively monitor the legislative status of their inventory and rigorously audit supplier invoices to ensure Value Added Tax is only charged on legally taxable supplies.
(Other Significant General Mwananchi Proposals)
Losing the Withholding Tax Defence (Clause 47): Proposes the deletion of Section 39A(2) of the Tax Procedures Act. The Impact: Failure to withhold will attract penalties from the payer, regardless of whether the payee settled it.
Shorter Timelines for Tax Disputes (Clause 52): Proposes the deletion of Section 77(2) of the Tax Procedures Act. The Impact: Currently, weekends and public holidays are excluded when calculating the deadlines for lodging tax objections and appeals to the Tribunal. Deleting this means severely shortening the actual working days your legal team has to dispute a Kenya Revenue Authority assessment.
Blocking Value Added Tax Offsets at the Port (Clause 50): Proposes to amend Section 47 of the Tax Procedures Act by deleting the phrase “and value added tax payable on imports”. The Impact: Taxpayers would potentially lose the ability to use approved tax refunds to offset Value Added Tax at the port, requiring cash payments at the border.
Repeal of Certificate of Origin (Clause 49): Proposes the repeal of Section 44A of the Tax Procedures Act. The Impact: Removes the Certificate of Origin requirements from general tax procedure, kicking the administration of origin certificates strictly to Customs and Excise control.
Administrative Effective Dates & Border Cleanups (Clauses 1, 56, 58): Clause 1 dictates that specific administrative clauses take effect on January 1, 2027, while the rest take effect on July 1, 2027. Clause 56 proposes to update the Miscellaneous Fees and Levies Act to ensure “East African Community Partner States” includes any new member nations, and Clause 58 cleans up wording around the payment of border levies.
Reinstatement of PINS: The proposal seeks to introduce a formal mechanism for reinstating a deregistered Personal Identification Number, dictating that the same historical Personal Identification Number must be reissued.
Centralising Tax Avoidance: The Bill proposes a unified “Tax Avoidance Schemes” provision (new Section 18A) directly into the Tax Procedures Act. If enacted, the Commissioner would gain statutory power to ignore the legal form of transactions deemed tax avoidance schemes and assess tax based on substance.
Sector 2 – Financial Services, Fintech & Banking
The Taxation of Digital Payments & Interchange Fees (Section 2 of the Income Tax Act; First Schedule (Part II) of the Value Added Tax Act)
Key change: Treasury is proposing to execute a dual legislative strike, by expanding the definition of Income Tax Act ‘management or professional fee’ to include interchange and merchant fees paid, as well as expressly listing that payment processing, gateways and aggregation services do not enjoy VAT exemption (VAT Act, Part 11), which Banks and Fintech have previously enjoyed.
Judicial Context: This is set to curb loopholes that have cost KRA years of litigation, on the characterization of interchange fees in the Supreme Court Barclays judgment and VAT exemption of financial service intermediaries.
The Commercial Impact: If passed, a broader payment ecosystem (banks, merchants, fintech) will fall within the WHT and VAT scope, increasing the costs of digital payments.
Recommended Actions: Review pricing model and tax clauses.
Redefining “Royalties” for the Software & Platform Economy (Section 2 of the Income Tax Act)
The Change: The proposed extension of the definition of “royalty” is meant to capture the payment of the following categories of players into withholding tax.
Category 1- Proprietary digital platforms, payment networks and card schemes, for example, Visa, M-Pesa;
Category 2- Distributors of software and SaaS Platforms, e.g. Microsoft partners, Google Workspace, and
Category 3- Industrial, commercial & scientific knowledge holders, previously known as technical agreements.
The Judicial context: This amendment is widely a response to the Seven Seas and Dynasoft Case, where software payments by distributors were successfully argued not to fall within the ambit of royalty. A broader definition is a legislative fix.
The Commercial Impact: It is likely to trigger withholding tax exposure, particularly for cross-border payments.
Recommended Actions: Restructure existing software distribution and SaaS contracts.
The Global Crackdown on Crypto & Virtual Assets (Section 3, New Section 6C, and New Section 6D of the Tax Procedures Act; First Schedule and Second Schedule of the Excise Duty Act)
The Proposed Shift & Rationale: The Bill proposes to compel Virtual Asset Service Providers (VASPs) to file annual information returns detailing user relationships, backed by new international automatic data-sharing agreements.
Policy Context: Kenya has adopted the OECD’s Crypto-Asset Reporting Framework, signalling the end of crypto anonymity to pave the way for capital gains and income tax audits.
The Commercial Impact: If enacted, non-compliant VASPs could face penalties of KES 1 million per failure, and crypto-traders would potentially lose anonymity, increasing exposure to audits.
Recommended Actions: VASPs must immediately build data pipelines to capture and submit compliant user data; corporate crypto investors should evaluate voluntary tax disclosures before data-sharing agreements go live.
Taxation of Mobile Devices- Shift of The Tax Point (First Schedule of the Value Added Tax Act; Section 6, Section 36, and the First Schedule of the Excise Duty Act; Second Schedule of the Miscellaneous Fees and Levies Act.)
The Proposed Shift & Rationale: The Bill proposes to abolish upfront border taxes; VAT, Import Declaration Fee (IDF) and Railway Development Levy (RDL) on mobile phones, replacing them with a 25% Excise Duty triggered strictly at the moment of network activation. This curbs smuggling by removing upfront port barriers while making it technologically impossible to evade taxes on a working, connected device.
The Commercial Impact: Tax burden will shift from the border level to the network level.
Recommended Action: Telcos must prepare to integrate activation protocols directly with KRA systems. Further, review pricing to accommodate the 25% excise duty.
Frictionless Foreign Capital for Investment Banks (Section 12 of the Tax Procedures Act.)
The Proposed Shift & Rationale: The Bill proposes to explicitly exempt non-resident persons from the mandatory requirement of obtaining a KRA PIN when opening an account with an investment bank. Historically, the mandatory KRA PIN registration has deterred offshore capital inflows.
The Commercial Exposure: This represents a massive commercial tailwind for the capital markets. It slashes onboarding times and drastically lowers the barrier to entry for Foreign Portfolio Investors, offshore hedge funds, and diaspora retail capital, enabling seamless, rapid account activation.
Recommended Actions: Investment Banks and stockbrokers should immediately ready their compliance and KYC/AML teams to overhaul non-resident client onboarding protocols, stripping out the PIN requirement.
Absolute Tax Certainty for Wealth Management and Trusts (Section 11 of the Income Tax Act.)
The Proposed Shift & Rationale: The Bill proposes a complete repeal and replacement of Section 11 of the ITA, shifting to a strict, unambiguous “single-tier” taxation model for trusts. It explicitly guarantees that once a trustee, executor, or administrator has paid tax on the trust’s chargeable income, any subsequent distributions to beneficiaries are entirely shielded from further taxation.
The Commercial Exposure: This eradicates the historical ambiguity and risk of double taxation on trust distributions, alongside the administrative nightmare of passing tax credits down to individual beneficiaries. It structurally elevates the Kenyan trust into a highly efficient, clean, and attractive vehicle for high-net-worth individuals (HNWIs), family offices, and corporate wealth structuring.
Recommended Actions: Trustees will have to upgrade their internal tax computation frameworks to ensure all liabilities are perfectly cleared at the trust level before distributions are executed.
Unlocking Asset Finance and Corporate Leasing (Section 16 of the Income Tax Act; Section 13 of the Value Added Tax Act.)
The Proposed Shift & Rationale: The Bill introduces two highly targeted credit enablers. First, it seeks to amend the VAT Act to explicitly exclude the “financial charge” from the taxable value of goods supplied under a registered Hire Purchase (HP) agreement. Second, it seeks to amend Section 16 of the ITA (which limits interest deductions) to separate the phrase “lending and leasing” into “lending or leasing” businesses. This ensures that thin-capitalisation rules apply correctly to financial institutions that specialise in one activity but not the other.
The Commercial Exposure: By legally decoupling the interest/finance charge from the physical value of the asset, the KRA is lowering the aggregate VAT burden on hire purchase transactions, making asset financing significantly cheaper for the end consumer. Concurrently, the ITA cleanup protects the corporate tax deductions for pure leasing or pure lending firms, shielding their margins.
Recommended Actions: Heads of Asset Finance must prepare to strip VAT out of the financing component, giving them an immediate pricing advantage in the market. Crucially, legal teams must ensure all HP agreements are strictly registered under the Hire Purchase Act, as this is a mandatory prerequisite to qualify for the proposed VAT carve-out.
Sector 3: General Corporate, Employment & Multinationals
The 2026 Finance Bill outlines a highly assertive revenue strategy that directly targets corporate restructuring, executive compensation, and cross-border profit mobility. The Treasury is moving away from ambiguous legal wording that historically favoured aggressive tax planning, replacing it with hard statutory thresholds.
For multinational enterprises (MNEs) and local conglomerates, this proposed legislation fundamentally alters the math on deal-making, cash retention, and talent acquisition.
ANALYSIS
| Scope | The Proposed Shift & Rationale: | The Commercial Exposure: | Recommended Actions: |
|---|---|---|---|
| Offshore M&A (Eighth Schedule to the Income Tax Act) | The Bill proposes amending the Eighth Schedule to impose CGT on the alienation of shares by a non-resident if those shares derive their underlying value from Kenya, or if the transaction alters the group membership of a resident company. This is a targeted strike at Base Erosion and Profit Shifting (BEPS), designed to stop global private equity funds and multinationals from bypassing local CGT by executing sales at an offshore holding company level. | Exit valuations and deal multipliers will take an immediate hit if passed. Transactions historically structured in jurisdictions like Mauritius or Delaware to remain outside the KRA’s purview will potentiallytrigger a local CGT liability, eroding expected investor returns. | M&A teams and deal advisors must instantly remodel the net-of-tax returns for any ongoing acquisitions or exits involving Kenyan assets. Tax warranties and indemnities in pending Share Purchase Agreements (SPAs) must be redrafted to account for potential changes in law. |
| Dividend Rule (Section 24 of the Income Tax Act) | This proposal empowers KRA, in the case where there is a shortfall of dividends, the Commissioner may direct that 60% of the company’s income be distributed as dividends, and tax it accordingly.By defining the %, the Treasury is securing a guaranteed pipeline of withholding tax. | Cash-rich private companies and tightly held corporate groups face severe working capital shocks. Withholding tax liabilities will potentially be levied on retained earnings that are locked up in inventory or receivables, draining free cash flow. | CFOs must run immediate stress tests on their retained earnings against this hard 60% threshold. If the business relies heavily on retained cash for operational scaling, it is critical to restructure capitalization policies or formally convert retained earnings into capitalized equity before the Bill passes. |
| Capping Gratuities (Section 5, Section 12, and the First Schedule to the Income Tax Act) | The Treasury proposes conditions for the exemption of gratuity payment to apply.The proposal caps the payment at not more than 31% of the employee’s basic salary; it disqualifies individuals who are already claiming registered pension or provident fund deductions. This surgically closes the “double-dipping” by taxpayers. | C-suite executives, expatriate contractors, and project-based talent will see a sharp drop in their net take-home pay. Should the provision pass, Employers utilizing gratuity-heavy remuneration models will face immediate pressure to gross-up salaries to keep key talent whole, drastically inflating payroll costs. | HR leadership must audit all executive and expatriate contracts currently utilizing the gratuity model. Begin drafting transition plans to move affected talent into standard PAYE structures or registered pension frameworks to ensure compliance while managing the inevitable compensation renegotiations. |
| Tightening CbC Reporting (Section 18D and Section 18F of the Income Tax Act) | The Bill proposes refining the definitions of an “ultimate parent entity” and its constituent entities for Country-by-Country (CbC) reporting.This eliminates the wiggle room previously used by complex, multi-tiered conglomerates to shield specific global revenues from the KRA’s view. | Multinational entities operating with fragmented regional holding structures risk massive administrative penalties and automatic transfer pricing audits if they misidentify the local filing entity or fail to submit compliant Master and Local files. | Global tax directors must conduct a top-down review of their international holding structures against the newly proposed statutory definitions. Ensure there is absolutely no ambiguity regarding which entity is legally designated to handle the CbC reporting obligations for the Kenyan jurisdiction. |
| Repatriation Tax (Ninth Schedule to the Income Tax Act) | The Bill proposes amending the Ninth Schedule to explicitly levy a 15% non-resident tax on income repatriated by foreign licensees and contractors in the mining, oil, and gas sectors.This ensures that foreign branches, which do not declare traditional “dividends”, cannot remit untaxed profits back to their headquarters. | Foreign extractive branches will suffer a direct, unmitigated 15% margin erosion on cash remitted abroad, significantly altering the payback period and internal rate of return for capital-intensive upstream projects | Upstream operators and extractive contractors must be on standby to recalibrate their financial models and cash-flow forecasts immediately. Treasury teams should provision for the 15% border tax on all future repatriations and evaluate whether operating as a local subsidiary now offers a more efficient tax posture than maintaining a branch structure. |
| Streamlining Employee Tax Administration & Bereavement Exemptions (Section 12 and the First Schedule to the Income Tax Act.) | The Bill proposes amending the First Schedule to explicitly exempt “benefits arising due to death” from income tax. Additionally, it amends Section 12 to clarify that individuals whose only income is “emoluments” are entirely exempt from paying installment taxes. This is a targeted administrative cleanup to protect employee bereavement payouts and shield standard wage-earners from complex installment tax compliance nets. | This represents an operational relief rather than a risk. It eliminates previous grey areas where the KRA could potentially attempt to tax employer-provided death benefits or penalize standard wage earners for missing installment tax filings. | HR and Payroll teams should be on standby to update employee welfare and bereavement policies to reflect the explicit tax-exempt status of death benefits, ensuring no PAYE is erroneously withheld on these payouts. |
| Protecting Wage Earners from Installment Taxes (Clause 9) | The Bill seeks to amend Section 12 of the Income Tax Act to explicitly state that employees whose only income is from emoluments (Pay As You Earn) are entirely exempt from paying installment taxes. | This is a targeted, clarifying provision. It protects standard wage-earners from inadvertently falling into complex installment tax compliance nets. | This is an express albeit hidden provision to bring Individual earners to the installment taxes fold |
Sector 4: Real Estate, Property & Construction
ANALYSIS
Increased Rental Income Tax ( Residents )
The Bill proposes to increase the monthly rental income for Kenyan residents from 7.5% to 10% for qualifying residential landlords.
Increased Rental Income Tax ( Non – Residents ) ( New Section 6B of the Income Tax Act)
The Bill introduces non – resident rental income tax to be accounted through a simplified framework at 30%, being the final tax.
The Commercial Exposure: Diaspora investors and offshore property holding companies will likely face immediate, aggressive compliance burdens. Passive income streams from Kenyan real estate will be directly targeted, compressing net rental yields for foreign owners.
Recommended Actions: Non-resident property owners must urgently evaluate their holding structures. Consider incorporating local property management vehicles to streamline compliance, or explore shifting direct property holdings into the newly tax-advantaged REIT structures to optimise tax exposure.
The REIT Landscape (Eighth Schedule to the Income Tax Act & Section 96A of the Stamp Duty Act)
The Proposed Shift & Rationale: The Bill proposes to explicitly exempt the transfer of property into a registered Real Estate Investment Trust (REIT) from both Capital Gains Tax (CGT) and Stamp Duty.
The Commercial Exposure: This represents a massive commercial win. Property developers and private equity funds looking to exit or securitise large-scale commercial or residential portfolios will potentially see a dramatic improvement in their Internal Rate of Return when packaging assets into REITs.
Recommended Actions: Real estate developers and institutional property owners should pause any immediate physical asset sales and urgently re-evaluate their portfolio restructuring strategies. Model the financial impact of rolling assets into a D-REIT (Development) or I-REIT (Income) to leverage these proposed tax-free transfers.
Public-Private Partnerships (PPPs) (First Schedule to the Value Added Tax Act)
The Proposed Shift & Rationale: The Bill proposes blanket VAT exemptions for both goods and services supplied directly and exclusively for infrastructure projects undertaken under the PPP framework. By removing the 16% VAT burden, the Treasury is deliberately lowering the immense upfront capital requirements and cash-flow friction associated with funding mega-infrastructure projects.
The Commercial Exposure: This is a finance changer for project finance. It immediately reduces the baseline capital expenditure for PPPs by 16%, significantly improving the commercial viability and bankability of toll roads, energy projects, and water infrastructure for Engineering, Procurement, and Construction (EPC) contractors.
Recommended Actions: EPC contractors and project sponsors currently negotiating, modelling, or bidding for PPPs should prepare to remodel their project finance assumptions to integrate these proposed VAT savings. Concurrently, ensure procurement protocols are tight enough to secure the required Cabinet Secretary approvals to legally qualify for the exemption.
CBK employees Mortgage Relief & Definitional Cleanups (Section 2 and Section 15 of the Income Tax Act)
The Proposed Shift & Rationale: The Bill proposes expanding the deductible mortgage interest relief (up to Kshs. 360,000 per year) to explicitly include loans advanced by the Central Bank of Kenya for the construction, purchase, or improvement of an employee’s residential house. It also makes a minor definitional cleanup to the term “immovable property”.
The Commercial Exposure: This is an operational and welfare win for a specific subset of employees. It poses no commercial risk to developers, but it provides a slight demand-side nudge for middle-tier housing by easing the tax burden on qualifying home buyers.
Recommended Actions: Payroll departments handling CBK-advanced housing loans must prepare to update their PAYE systems to ensure eligible employees receive the proposed statutory interest deductions against their taxable income once the Bill takes effect.
Click to download Tax Alert: Finance Bill 2026 Issue 1
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Disclaimer & Legal Notice
This tax alert is based on the initial Finance Bill 2026 that is circulating as of 30th April 2026 and is not the final enacted.The proposed clauses, tax rates, and administrative shifts are strictly proposals subject to amendment or deletion during parliamentary debates. Furthermore, this document is prepared by Ithera Africa for general informational and strategic planning purposes only and does not constitute formal tax, legal, or financial advice. Ithera Africa assumes no liability for any commercial or operational decisions made relying on this publication; we strongly advise consulting your dedicated tax and legal professionals to assess the specific impact on your business before executing any transactions.
