Finance Act 2025 Analysis

Key Tax Amendments and Legislative Changes

Passed by H.E. Dr. William Samoei Ruto on 26th June 2025

Overview

The Finance Act 2025 implements Kenya’s KSh 4.2 trillion budget, with KSh 3.35 trillion in estimated revenues and grants. Key objectives include enhancing domestic revenue mobilization, expanding the tax base, and fostering fiscal sustainability through amendments to:

  • Income Tax Act
  • Value Added Tax Act
  • Excise Duty Act
  • Tax Procedures Act

Income Tax Act Amendments

Significant Economic Presence Tax (SEPT)

Expanded definition to include digital services provided via internet/electronic networks. Removal of exemption for non-residents with annual turnover < KSh 5 million.

Implication: More non-resident digital service providers (streaming platforms, online consultancies, e-learning) now fall under Kenyan tax net.

Minimum Top-Up Tax

Payable by end of fourth month after income year-end for covered entities (MNE groups with ≥ EUR 750M turnover).

Deduction for Utensils

Fixed 100% deduction in year of income (previously at Commissioner’s discretion).

Implication: Boosts cash flow for hotels and similar businesses.

Abolition of Tax Relief

Removed one-third tax deduction for non-citizen employees of regional offices.

Implication: Higher tax burden for affected foreign employees.

Loss Offset Provision

Deleted provision allowing offset of losses from property/financial instrument gains.

Mortgage Interest Deduction

Expanded to include “construction of residential premises” (up to KSh 300,000 annually).

Implication: Positive step for equitable housing policy, benefits low-to-middle income groups.

Tax Loss Carryforward

Limited to 5 years (previously indefinite). Discretionary extension by Cabinet Secretary deleted.

Implication: Disproportionately affects long-gestation industries (infrastructure, manufacturing, tech).

Advance Pricing Agreements

Introduced for transfer pricing, valid up to 5 years.

Withholding Tax on Royalties

Expanded to include software distribution.

Employment Tax Changes

Pension Taxation

Removal of tax exemptions on:

  • First KSh 300,000 of pension income
  • Lump-sum thresholds (commuted pension: KSh 600,000; provident fund: KSh 600,000 or KSh 60,000/year; NSSF: KSh 600,000)
  • Survivor benefits and estate lump sums (KSh 1.4 million)

Implication: Reduced net pension income for retirees, increased financial burden on bereaved families.

Per Diem Increase

Threshold raised to KSh 10,000 per day (from KSh 2,000).

Implication: Higher tax-free travel allowance for employees.

Value Added Tax Amendments

Place of Supply for Non-Residents

Clarified to include supplies to unregistered persons in Kenya.

Electronic Services Definition

Replaced “broadcast television” with “internet, radio or television broadcasting services”.

Implication: Broadens scope to include streaming services (Netflix, Hulu, etc.).

Refund Provisions

  • Historical VAT credit refunds deleted
  • Refund claim period reduced from 24 to 12 months
  • Bad debt refund waiting period reduced from 3 to 2 years
  • Bad debt refunds can offset other VAT liabilities

Tax Invoice Requirement

Now required for all supplies (including exempt/zero-rated).

Inconsistent Use of Exempt/Zero-Rated Supplies

VAT payable if goods/services used inconsistently with exempt purpose.

Key Rate Changes (Effective 1st July 2025)

  • Construction inputs for tourism facilities – (Exempt) , New Rate – 16%
  • Construction inputs for specialized hospitals – (Exempt) , New Rate – 16%
  • Affordable housing construction inputs – (Exempt) , New Rate – 16%
  • Solar/wind energy equipment – (Exempt) , New Rate – 16%
  • Animal feed inputs – (Zero) , New Rate – Exempt
  • Locally assembled mobile phones – (Zero) , New Rate – Exempt

Excise Duty Act Amendments

Digital Lender Definition

Broadened to include any person extending credit electronically (excluding banks, SACCOs, microfinance).

Excise Duty on Non-Resident Services

Expanded to cover services over internet/electronic network (not limited to digital platforms).

Deemed Place of Supply

For imported digital services consumed in Kenya.

Key Rate Changes (Effective 1st July 2025)

  • Imported eggs (excluding fertilized) , (25%) , New Rate – N/A
  • Imported onions , (25%) , New Rate – N/A
  • Imported potatoes, crisps, chips , (25%) , New Rate – N/A
  • Coal, (2.5% of custom value), New Rate – 2.5% of excisable value
  • Various printed materials/plastics, ( 25% or specific rates) , New Rate – 25% or KSh 200 per kg (whichever higher)
  • Ceramic tiles , (5% or KSh 50 per kg), New Rate – 5% or KSh 300 per m² (whichever is higher)

Tax Procedures Act Amendments

Penalty for Failure to Deduct/Withhold Tax

Not liable if recipient has paid the tax.

Recovery of Tax via Property

Payment plan option; stamp duty exemption on transfer if plan agreed.

Refund Application Timeline

Extended from 90 to 120 days (180 days if audited).

Penalty for Non-Submission of Returns

Explicitly covers complete non-filers (not just late).

Waiver for System Errors

Cabinet Secretary can waive penalties/interest due to KRA system errors.

Certificate of Origin

Mandatory for all imports.

Miscellaneous Fees and Levies

Railway Development Levy (RDL) and Import Declaration Fee (IDF)

Exemption broadened for aircraft and parts (Chapter 88) without prior approval.

IDF Allocation

Increased from 10% to 20% for a Fund (10% for AU contributions, 10% for revenue enforcement).

Export and Investment Promotion Levy

Ceramic products – 3% of customs value – Effective, 1st July 2025

Iron/steel products – 17.5% of customs value – Effective, 1st July 2025

Conclusion

The Finance Act 2025 represents a significant shift in Kenya’s tax policy, emphasizing digital compliance, widened tax enforcement, and modernization of tax laws. While aiming to boost revenue and enhance administrative efficiency, it introduces stricter obligations for taxpayers and reduces certain reliefs previously available.

Stakeholders should thoroughly assess the implications of these changes, which may increase compliance burdens and affect operational costs for both individuals and businesses.

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