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Kenya Clears Outstanding VAT Refunds

by Lorys Charalambous, Tax-News.com, Cyprus

01 November 2016


During Taxpayers' Day Celebrations on October 28, Cabinet Secretary Henry Rotich said that Kenya's National Treasury has been able "to bring to closure to the long-standing issue" of value added tax (VAT) refunds.

Most of the substantial outstanding refunds had been unpaid since 2013 following an amendment to Kenya's VAT Act. Rotich confirmed that their clearance is meant "to substantially enhance business cash positions."

He disclosed that the National Treasury recently released an additional KES7.09bn (USD69.8m) for the settlement of tax refunds. With more than 80 percent of this amount already paid out, Rotich noted that the balance is expected to be released by end-November once the remaining claims are verified.

"This amount is besides the monthly allocation of KES1.24bn that the Kenya Revenue Authority uses to settle VAT claims," he added. "In total therefore, for this year, we shall disburse a total of KES21.97bn towards VAT refund settlement."

TAGS: tax | business | value added tax (VAT) | Kenya | tax breaks | VAT refunds | Tax

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