The simplification of a tax system goes a long way towards ensuring compliance. There are two distinct ways of simplifying a tax system – enhanced legislation and effective tax collection – and their execution must be coordinated for exemplary results to be attained. Good legislation is well thought out and customised to the dynamics of a...
Kenya has a broad taxation system covering income tax, value-added tax (VAT), and Customs and excise duties. These are governed by independent legislation that establish provisions for the charge, assessment and collection of the respective taxes. The Kenya Revenue Authority (KRA) employs different divisions that deal with the three areas,...
While Kenya is no stranger to political strides experienced across the region, the country has managed to avoid long periods of crisis – whether political, economic or social – and has been able to overcome its challenges in relatively short periods of time.
Trinidad and Tobago has traditionally generated the majority of its revenue from its once-buoyant oil and gas sector. Today, however, the sharp decline of energy revenue has led to a shift in the tax landscape, with the government seeking to diversify its sources of income and reduce leakages.
A sluggish and largely non-diversified economy, coupled with difficulties collecting taxes, has burdened T&T for the last few years. The declines of both hydrocarbon production and prices have severely reduced tax revenues from the energy sector. Receipts from petroleum fell from over TT$20bn ($2.9bn) in 2014 to less than TT$1bn ($148.3m)...
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