President William Ruto has declared that all verified tax refund claims will be payable within six months.
He said if a refund is not made by the Kenya Revenue Authority (KRA), within this period, then it will be offset against future tax liability.
Speaking yesterday while addressing the American Chamber of Commerce Regional Business Summit, President Ruto said the counterbalance will be done without further application to KRA.
“Tax refunds remain a thorn in the flesh of many businesses. We are making a drastic policy shift on this issue,” he said.
The meeting, he said reinforces “our relationship that stands firmly on the sound foundation of shared values including commitment to liberty, democracy and free enterprise”.
He noted that it is the commitment of the government to have a tax regime that will spur commerce.