By Matthew Magare Kenya signed an Economic Partnership Agreement (EPA) with the UK on 8 December 2020, which took effect on 1 January 2021. The EPA is part of the UK’s transitional efforts following Brexit. The Agreement is based on the text of the Economic Partnership Agreement between the East African Community Partner States and...
By Matthew Magare Citizenship through investment remains an attractive option to attract foreign direct investment into a country. The United States (EB-5 visa programme), Spain (Golden visa programme), Canada (The Federal Immigrant Investor Program), Thailand (“Elite” visa residency), Cyprus (Golden Visa) are just some of the international packages available to investors. The overriding aspect of...
By Matthew Magare The Startup Bill 2020 is before the Senate. The objective of the proposed law is to provide a framework to encourage growth and foster a favourable environment for startups. The Bill envisions the creation of a Registrar of Startups. The Registrar shall maintain a database of startups indicating their ownership, stage of...
By Matthew Magare The Commissioner Customs and Border Control (the “Commissioner“) through Gazette Notice No. 3530 published on 13 May 2020 (the “Gazette Notice“) set out certain goods that can no longer be held under a customs bonded warehouse. The notice came into effect in October 2020. Customs bonded warehouses allow for the storage and...
By Victor Orandi The Kenya Revenue Authority (KRA) is set to start monitoring businesses’ daily sales. This follows the publication of the Value Added Tax (Electronic Tax Invoices) Regulations 2020 (Regulations) on 10th September 2020. The Regulations will require businesses with an annual turnover of at least Ksh. 5 million to install an electronic tax...
By Victor Orandi On 30th June 2020, the President assented to the Finance Act 2020, which among several other amendments, introduced a Digital Service Tax (DST). The DST is payable by a person whose income, from the provision of services, is generated from or accrues in Kenya through a digital market place. The Cabinet Secretary...
By Victor Orandi On 25th November 2019, the Data Protection Act 2019 came into force in Kenya (DPA). The DPA applies in all sectors where personal data is being collected such as in digital marketing, fintech companies, insurance, financial services, and media by either individual or entities. It also imposes penalties for non-compliance of both...
By Matthew Magare Through a press release dated 7th August 2020 the Central Bank of Kenya (CBK) announced acquisition of 90% of Jamii Bora Bank Limited (JBB) by the Cooperative Bank of Kenya Limited (Co-op Bank), effective 21st August, 2020. JBB was established in 2010 following the merger of a bank and a microfinance institution....
By Purity Ngigi – Sundays In a recent court decision in Kisumu, a judge ruled that the termination of a domestic worker otherwise known as a house manager or house help was unfair since the employer did not issue the employee with a valid reason for termination and did not follow the stipulated procedure while...
By Victor Orandi Thousands of couples make public statements to legalize their union. They cite death as the only reason for separation. Unfortunately, divorce sometimes precedes death and then comes the dreaded process of dividing family property. The Matrimonial Property Act (the “Act”) guides the rights and responsibilities of spouses concerning family property. The Act...
