Kenya Tax Appeals Tribunal rules certain fund management activities can trigger a PE
|Tax Alerts, Legislation & Policy, Na ...|Kenya
The Kenya Revenue Authority contended that a foreign private equity Fund had a permanent establishment (PE) in Kenya because it carried out its business through the employees of an entity that was incorporated in Kenya.
The Tax Appeals Tribunal ruled that the Appellant indeed created a PE for a foreign Fund, and it was liable to corporate income tax on gains derived from sale of shares by the foreign Fund.
The judgment highlights the importance of active management of a PE risk by foreign fund man…
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