{"id":37083,"date":"2021-10-13T17:25:27","date_gmt":"2021-10-13T17:25:27","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/?p=37083"},"modified":"2021-10-13T14:56:37","modified_gmt":"2021-10-13T14:56:37","slug":"kra-reassures-on-new-international-tax-reforms","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms","title":{"rendered":"KRA reassures on new international tax reforms"},"content":{"rendered":"

Africa-Press<\/a> – Kenya<\/a>. <\/strong><\/span>KRA has allayed fears on the possible loss of revenue from multinational firms following the signing of a tax framework that will reform international tax rules.<\/p>\n

The concerns follows an announcement from the Organisation for Economic Co-operation and Development (OECD) that significant reforms of the international tax system has been finalised.<\/p>\n

In the reforms, Multinational Enterprises(MNEs) will be subjected to a minimum 15 per cent tax rate from 2023.<\/p>\n

Commissioner General Githii Mburu said Kenya had shared its technical concerns and was party to the ongoing developments spearheaded by the OECD and G20 countries.<\/p>\n

\u201cThe introduction of the digital service tax in Kenya had helped curb tax avoidance by multinational firms engaged in digital enterprises. With the growing revenues generated from such MNE\u2019s, Kenya will consider the benefits of the inclusive framework cautiously,\u201d said Mburu.<\/p>\n

The OECD\/G20 inclusive framework on base erosion and profit shifting has agreed on a two-pillar solution to address the tax challenges arising from the digitalisation of the economy.<\/p>\n

Mburu said he was actively consulting and had shared a detailed technical proposal with the OECD to ensure a win-win outcome in the ongoing global developments focusing on the taxation of digital sector players.<\/p>\n

\u201cAlthough we have not signed the agreement, Kenya is fully aware of the developments, and we will continue engaging to ensure that we have a win-win outcome,\u201d Mburu said.<\/p>\n

Kenya\u2019s position on the framework was supported by several speakers including Panama-based Executive Secretary of the Inter-American Center of Tax Administrations (CIAT), M\u00e1rcio Verdi.<\/p>\n

Nigeria supported Kenya\u2019s position noting that the Inclusive Framework had deviated from the earlier agreed mandate of developing a solution to address tax challenges for the digital economy.<\/p>\n

\u201cIt was widely held that a multilateral approach would be the most appropriate means of achieving a standard set of coordinated rules,\u201d said Federal Inland Service Nigeria Group Lead, Special Tax Operations Group Mathew Gbonjubola.<\/p>\n

Last week, the OECD confirmed that 136 countries and jurisdictions representing more than 90 per cent of global GDP had agreed to the all-inclusive framework.<\/p>\n

Following years of intensive negotiations to bring the international tax system into the 21st century, 136 jurisdictions (out of the 140 members of the OECD\/G20 Inclusive Framework on BEPS) joined the Statement.<\/p>\n

With Estonia, Hungary and Ireland having joined the agreement, it is now supported by all OECD and G20 countries.<\/p>\n

Kenya, Nigeria, Pakistan and Sri Lanka are yet to join the agreement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. KRA has allayed fears on the possible loss of revenue from multinational firms following the signing of a tax framework that will reform international tax rules. The concerns follows an announcement from the Organisation for Economic Co-operation and Development (OECD) that significant reforms of the international tax system has been finalised. In […]<\/p>\n","protected":false},"author":84,"featured_media":37082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8,16],"tags":[6857,7003,544],"class_list":["post-37083","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","category-twitter","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nKRA reassures on new international tax reforms - kenya<\/title>\n<meta name=\"description\" content=\"KRA has allayed fears on the possible loss of revenue from multinational firms following the signing of a tax framework ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"KRA reassures on new international tax reforms\" \/>\n<meta property=\"og:description\" content=\"KRA has allayed fears on the possible loss of revenue from multinational firms following the signing of a tax framework ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-13T17:25:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/10\/img-6166f38fe1806.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"562\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"KRA reassures on new international tax reforms\",\"datePublished\":\"2021-10-13T17:25:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\"},\"wordCount\":412,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2021\/10\/img-6166f38fe1806.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\",\"twitter\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/kra-reassures-on-new-international-tax-reforms\",\"name\":\"KRA reassures on new international tax reforms - 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