The Kenya Investment Authority (Invest Kenya) has reaffirmed its commitment to creating a more predictable and investor-friendly business environment after participating in a high-level engagement with the Kenya Revenue Authority (KRA) and the Kenya Private Sector Alliance (KEPSA).
The meeting, which marked the second high-level engagement between KEPSA and KRA, brought together stakeholders to deliberate on key tax administration issues affecting private sector investments in Kenya.
Among the issues discussed were tax policy predictability, the processing of Value Added Tax (VAT) refunds, transfer pricing, the tax alternative dispute resolution mechanism, the reliability of tax systems, as well as customs and border efficiency.
“As part of its coordinating role, Invest Kenya today joined the Kenya Private Sector Alliance (KEPSA) in the 2nd high-level engagement with the Kenya Revenue Authority (KRA) to discuss key tax administration issues affecting private sector investments,” statement read.
According to Invest Kenya, the discussions form part of its coordination role in supporting investment facilitation and improving the ease of doing business in the country.
The engagement also reinforces the Ministry of Investments, Trade and Industry’s (MITI) and Invest Kenya’s continued efforts to foster a transparent, competitive and predictable investment climate through sustained collaboration with government agencies and the private sector.
Officials noted that the dialogue is part of a broader whole-of-government approach aimed at addressing challenges facing businesses and investors while enhancing Kenya’s competitiveness as a preferred investment destination in the region.
The continued engagement between the government and the private sector is expected to strengthen investor confidence, improve tax administration, and support economic growth by creating a more conducive environment for local and foreign investments.
