Doing Business in Kenya - RSM International

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Appendix of Acronyms used in the Booklet“AGOA”African Growth and Opportunity Act“AIMS”Alternative Investments Market Segment“ARIPO”African Regional Intellectual Property Organisation“BPO”Business Process Outsourcing“CBK”Central Bank of Kenya“CET”Common External Tariff“CMA”Capital Markets Authority“COMESA” Common Market for East and Southern Africa“Commissioner” Commissioner General or any other Commissioner to which certain powers or functionshave been delegated under the KRA Act“COTU”The Central Organisation of Trade Unions“DIT”Department of Industrial Training“DTA”Dividend Tax Account“EAC”East African Community“EPZ”Export Processing Zone“EU”European Union“FISMS”Fixed Income Securities Market Segment“GDP”Gross Domestic Product“GSP”Generalised System of Preferences“IBD”Industrial Building Deduction“ICPAK”Institute of Certified Public Accountants of Kenya“ICT”Information Communication and Technology“IFRS”International Financial Reporting Standards“IPA”Investment Promotion Authority“JKIA”Jomo Kenyatta International Airport“KEPHIS”Kenya Plant Health Inspectorate Services“KIPI”Kenya Industrial Property Institute“KM”Kilometres“KRA”Kenya Revenue Authority“MIMS”Main Investments Market Segment“MW”Megawatt“Minister” Minister for Finance“NGO”Non Governmental Organisation“NHIF”National Hospital Insurance Fund“NSE”Nairobi Stock Exchange“NSSF”National Social Security Fund“OECD”Organisation for Economic Cooperation and Development“PAYE”Pay As You Earn“PIN”Personal Identification Number“PSV”Public Service Vehicles“RTPA”Restrictive Trade Practices, Monopolies and Price Control Act“SAR”Self Assessment Return“SHS” Kenya Shilling (Exchange rate: 1 US$ = Shs 100)“SQ.M”Square Metres“UAE”United Arab Emirates“UNHCR”United Nations High Commissioner for Refugees“USD”United States Dollar“VAT”Value Added Tax“WIPO”World Intellectual Property Organisation88DOING BUSINESS IN KENYA
NotesDOING BUSINESS IN KENYA89
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2.0 General2.1 IntroductionKenya li
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Kenya Tanzania Uganda Rwanda Burund
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A huge chunk of the Act regulates m
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• Stamping of the Memorandum of A
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the Registrar within a statutory pe
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3.2.3 Thin CapitalisationThin capit
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Where a business is carried on or e
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territory or domestic market. Motor
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• Unrealised foreign exchange los
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4.2.6 Business with Non-Resident Pe
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Installments Due Date RateNon-Agric
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The current Personal Income Tax rat
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c) Housing• The higher of market
Page 38 and 39: partnership in which the husband or
Page 40 and 41: (1) East African Community partner
Page 42 and 43: Where the taxpayer still disputes w
Page 44 and 45: The VAT rates applicable in Kenya a
Page 46 and 47: 4.8.4 De-registration and Disposal
Page 48 and 49: • Payment is received for all or
Page 50 and 51: 4.8.7 Records, Invoices, Credit and
Page 52 and 53: A credit note should be serially nu
Page 54 and 55: However, where a motor vehicle or o
Page 56 and 57: Where there is no tax payable a ‘
Page 58 and 59: granted or is partly granted, the b
Page 60 and 61: • Airtime on cellular mobile phon
Page 62 and 63: Transit VisasThese are visas requir
Page 64 and 65: Class K is for persons who have an
Page 66 and 67: 5.3.2 WagesAlthough the Employment
Page 68 and 69: NSSF provides the employee with a l
Page 70 and 71: 6.0 ACCOUNTING6.1 Statutory Framewo
Page 72 and 73: 7.0 INTELLECTUAL PROPERTYRIGHTSKeny
Page 74 and 75: Years 1 Shs 1,000Year 2 Shs 1,500Ye
Page 76 and 77: 8.0 Listing Rules8.1 The Capital Ma
Page 78 and 79: • At the date of application, the
Page 80 and 81: 8.3 Payable FeesCompanies pay an in
Page 82 and 83: 9.0 Investing in Kenya9.1 General I
Page 84 and 85: 9.3 Foreign Ownership of Shares and
Page 86 and 87: Contact Details - RSM AshvirRSM Ash
Page 90: Notes90DOING BUSINESS IN KENYA
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