The imposition of Withholding Tax on demurrage has been one of the main issues that has affected the revenue collection in the shipping industry. Prior to the conduct of tax audits by the Kenya Revenue Authority (KRA), most shipping agents did not withhold taxes on demurrage leading to the protracted court battles as to the interpretation and treatment of demurrage under the Income Tax Law.
18th Nov 2024
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09th May 2024
