Kenya Enacts Finance Act 2017

Kenya has enacted the Finance Act 2017, which was published in the Official Gazette on 23 June 2017. The Act includes the measures proposed as part of the 2017/2018 Budget with some changes. The main measures include:

• A reduced corporate rate for new motor vehicle assemblers of 15% for the first five years of operation, which subject to conditions, may be extended a further five years (standard 30%);
• New Special Economic Zone (SEZ) incentives:
  • 100% investment deduction for capital expenditu…