Income Tax Act has loopholes companies exploit to avoid paying taxes

Obell becomes the first Kenyan to be appointed to the United Nations Economic and Social Council’s Committee of Experts on International Cooperation in Tax matters.

Kenya’s Income Tax legislation lacks clarity and contains loopholes that make it easy for multi-nationals to evade paying taxes.

This is according to a panel of tax experts taking part in the third Annual Kenya Revenue Authority (KRA) Tax Summit led by former Ghana Finance Minister and current board member of the International Tax and Investment Centre (ITIC) Seth Terkper, which ended yesterday.