Nairobi, Feb. 3 -- The Kenya Revenue Authority (KRA) has received backing from the Tax Appeals Tribunal to tax unexplained bank deposits in the fight against tax evasion.
The tribunal ruled that money flowing into bank accounts is presumed to be income unless the savers can prove with documents that the cash is not profits.
To shore up revenue, President William Ruto's administration has deepened its crackdown on tax cheats and it is expected to be more aggressive, having avoided new or higher taxes in the previous two Finance Bills in the wake of the deadly anti-tax protests that killed over50 people in 2024.
The legal backing came in a dispute between the KRA and Naivasha hotel businesswoman Virginia Wangari, where the tribunal suppo...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.