ANNOUNCED AS TEMPORARYNo
Tax or social insurance relief
Effective from 1 January 2018, the government of Kenya via Finance Act 2017 introduced a corporate tax reduction of 15% for newly incorporated companies carrying out local assembly of motor vehicles.
The reduced rate will initially be valid for a five-year period. Nevertheless, according to the Finance Act 2017, the tax reduction of 15% can be extended for an additional five-year period.
The additional 5-year extension will only apply if the companies carrying out the local assembly of motor vehicles achieve a local content of 50% of the ex-factory value of their vehicles.
Furthermore, as of 1 January 2018, the government of Kenya via Finance Act 2017, also for the first time exempted from Import Declaration Fees as well as Railway Development Levies, all goods which are imported for the purpose of being used in the construction of local LPG storage facilities.
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