Kenya Tax Appeals Tribunal confirms importance of board's location/role in determining company's place of effective management/control for tax residency
|Tax Alerts, Information Reporting, Legis ...|Kenya
The Kenya Revenue Authority contended that role of the appellant's board of director's was merely to rubber-stamp decisions made by company management, which was based in Kenya.
The Tax Appeals Tribunal maintained that the role of a board of directors is vital and that an assertion that it is merely to rubber-stamp decisions must be supported by concrete evidence to show that the directors lacked sufficient knowledge and information to perform their duties, and sat in meetings merely as a formali…
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