Kenya gazettes Income Tax (Financial Derivatives) Regulations, 2023

Kenya’s Cabinet Secretary for the National Treasury and Economic Planning has gazetted the Income Tax (Financial Derivatives) Regulations, 2023.

The Finance Act, 2022 introduced a new provision subjecting gains from financial derivatives earned by nonresident persons to withholding tax at a rate of 15%.

The recently gazetted regulations seek to provide clear guidelines on the treatment of income accruing from financial derivatives.