Executive summary
On 22 September 2021, the Kenya Revenue Authority (KRA) issued a public ruling withdrawing a guidance note that exempted certain organizations from the requirement to maintain separate accounts and separate tax computations in respect of each specified source of income.
With effect from 1 October 2021, all taxpayers will be required to prepare a separate account in respect of each specified source of income. The now withdrawn waiver had been granted by the KRA in its letter date…