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HomeDaily NewsSaturday, June 13, 2026Backlash as Mbadi presses for KRA sweeping powers on asset seizures - June 2026
Business & Economy3 stories from 1 sources

Backlash as Mbadi presses for KRA sweeping powers on asset seizures - June 2026

A proposal by the National Treasury to grant the Kenya Revenue Authority sweeping powers to seize assets during tax disputes has sparked significant backlash from tax experts and the private sector. In a related regulatory development, the High Court ruled that credit notes and assessor reports are sufficient proof of loss for insurance companies seeking compensation for damages. Meanwhile, developers of Kenya's affordable housing program are facing increased construction costs after the VAT exemption on related goods was removed, shifting them to standard-rated supplies.

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Friday 9:48 PMNation Business

Backlash as Mbadi presses for KRA sweeping powers on asset seizures

Backlash as Mbadi presses for KRA sweeping powers on asset seizures

A proposal by the National Treasury to grant the Kenya Revenue Authority (KRA) sweeping powers to seize assets, even during tax disputes, has sparked significant backlash from tax experts and the private sector.

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Key Highlights

A proposal by the National Treasury to grant the Kenya Revenue Authority (KRA) sweeping powers to seize assets, even during tax disputes, has sparked significant backlash from tax experts and the private sector.

  • The proposal aims to allow the KRA to enforce tax collection once a judgment favors them, requiring taxpayers to secure mandatory stay orders to protect their assets.
  • Key figures involved include Treasury Cabinet Secretary John Mbadi, who presented the proposal, and criticism from entities like Equity Group and Deloitte.
  • This marks the fourth attempt in recent years to roll back taxpayer protections regarding asset seizures during appeals, with previous proposals in Finance Bill 2022, 2024, and 2025.
Friday 6:36 PMNation BusinessFirst

Affordable housing developers face higher costs on scrapped VAT exemption

Affordable housing developers face higher costs on scrapped VAT exemption

Developers of Kenya's affordable housing program are facing increased construction costs as the VAT exemption on related goods has been removed, shifting them to standard-rated supplies.

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Key Highlights

Developers of Kenya's affordable housing program are facing increased construction costs as the VAT exemption on related goods has been removed, shifting them to standard-rated supplies.

  • The standard 16 percent VAT will now apply to construction materials like cement and steel.
  • This change impacts the National Treasury's affordable housing initiative, a flagship government project.
  • Analysts at KPMG warn this could slow down affordable housing development and increase prices for consumers.
Friday 9:33 PMNation Business

Boost for insurers as court backs softer claim terms

Boost for insurers as court backs softer claim terms

The High Court has ruled that credit notes and assessor reports are sufficient proof of loss, a decision that will significantly aid insurance companies seeking compensation for damages.

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Key Highlights

The High Court has ruled that credit notes and assessor reports are sufficient proof of loss, a decision that will significantly aid insurance companies seeking compensation for damages.

  • The court overturned a Small Claims Court decision that had awarded only Sh2,900 instead of the claimed Sh499,488 to Huruma Maternity & Nursing Home.
  • Key organizations involved include the High Court, Small Claims Court, and Huruma Maternity & Nursing Home.
  • This ruling eases the burden for insurers and claimants who previously struggled to produce bank statements or receipts for payments settled through credit arrangements.
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