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Join the Association of Professional Societies in East Africa (APSEA) for a X Space Session titled "Breaking Down the Finance Bill 2025: What It Means for Professionals" on Thursday, 15th May 2025 at 8:00 PM via APSEA KENYA

Raila: Surrender CDF to counties ODM leader Raila Odinga sustains push for CDF to counties Raila tells MPs to prepare for referendum on CDF MPs have been holding public participation to entrench CDF #CitizenExplainer Yvonne Okwara

We are thrilled to welcome H.E Stephen Kalonzo Musyoka EGH, SC, Former Vice President of Kenya as our guest speaker tomorrow. Come ready to engage, learn, and spark meaningful conversations that drive real impact. CPA Philip Kakai CPA DR. GRACE KAMAU Georgina Malombe Olive Gitau Risper Olick

More photo highlights from a remarkable final day at the #ICPAK42ndAnnualSem Edition 1 -wrapping up with impact, insight, and inspiration! #BeyondTheProfession Kalonzo Musyoka CPA Philip Kakai FCPA Hesbon Omollo Hillary Onami Catherine Asemeit Omasete ^CA

As we wrap up the #ICPAK42ndAnnualSem Edition 1, here’s a glimpse into the memories, insights, and connections that made it unforgettable. #BeyondTheProfession Kalonzo Musyoka CPA Philip Kakai CPA DR. GRACE KAMAU Georgina Malombe Risper Olick Olive Gitau CPA Wycliff Bichang'a Hillary Onami ^CA

The Public Finance Review (PFR) for Kenya aims to; ensure that every tax shilling benefits the Kenyan taxpayer and informs the development of a fiscal policy that fosters job creation, poverty reduction, and equity. #KenyaPublicFinanceReview #KenyaEconomicUpdate

Kenya’s fiscal situation is precarious: public debt stood at 68 percent of gross domestic product (GDP) in 2024, and the risk of debt distress is high. #KenyaPublicFinanceReview #KenyaEconomicUpdate

Currently making submissions to the Finance Committee is ICPAK. They hold that though the #FinanceBill2025 aligns with the MTRS, several pending policy concerns, including a review of the VAT rate and the introduction of VAT on education and insurance services.

ICPAK has also proposed the review of the proposed 5-year cap on tax loss deductibility to 15 years, with losses from investment allowances carried forward indefinitely, as 5 years is too short for capital-intensive projects.

On the Bill’s proposal that employers grant all applicable deductions, reliefs, and exemptions before remitting PAYE, ICPAK recommends that relief be deducted from the computed PAYE (as is current practice), as the Bill's proposal would likely increase PAYE.

Regarding Income Tax Exemption Approval Period, ICPAK proposes the extension of the approval period from 60 to 90 days. ICPAK argues that retaining the 60-day period will avoid confusion on the tax status of applicants during the interim period.

On the proposed taxation of Real Estate Companies, ICPAK recommends retaining the 15 % incentive on preferential income tax rate for companies constructing 100 residential units to support the affordable housing agenda and prevent increased housing prices.

ICPAK recommends deletion of the proposal in the Bill to remove the 15% corporate tax incentive for local assemblers so as to encourage investment, long-term economic activity, and job creation in the local automotive industry.

ICPAK has also proposed expanding the PAYE bands to make Kenya more competitive, increase disposable income, and spur economic growth, suggesting a study for comparative analysis with other jurisdictions.

They have recommended reducing the top PAYE rate from 35% to 28% and increasing personal relief from KES 2,400 to KES 3,000 per month.

ICPAK has also recommended the reduction of corporate income tax rate from 30% to 28% to align with global and regional trends, enhance Kenya's investment hub position, and encourage voluntary tax compliance.

Today in our summary of submissions made regarding Finance Bill 2025, we look at proposals tabled by ICPAK, PKF in Eastern Africa, Andersen in Kenya & Deloitte Kenya. Quite impressed by submissions regarding widening of PAYE bands, I hope the National Assembly KE Finance & Planning Committee

In response to the call for proposals on the #FinanceBill2025, by the National Assembly, the Institute made submissions on specific tax laws to be amended. CLICK HERE icpak.com/wp-content/upl… TO ACCESS THE SUBMISSIONS. Robert K Waruiru Hillary Onami FCPA Erastus Kwaka Omolo elias ^CA

On 9th June 2025, ICPAK, led by Council members FCPA Georgina Malombe, CPA CPA Wycliff Bichang'a, and CPA DR. GRACE KAMAU Dr. Grace Kamau, met with Kenya Revenue Authority Commissioner in charge of Micro and Small Taxpayers Department Mr. George Obell, MBS, and team to discuss tax administration challenges. Key

🔐 Big News! ICPAK launches UDIN-a secure digital stamp for accountants’ documents. Mandatory from 1 Aug 2025. Say no to fraud, yes to accountability! #ICPAK #UDIN #ICPAKInnovates