KRA sweeping powers in new Finance Bill
The Finance Act 2026 seeks to amend the Tax Procedures Act...
✨ Key Highlights
The Kenya Revenue Authority (KRA) is seeking expanded powers through the Finance Bill 2026 that would allow them to freeze taxpayer bank accounts and assets even when a tax assessment is under appeal.
- The proposed amendment seeks to delete a clause in the Tax Procedures Act currently protecting taxpayers with appeals from KRA agency notices.
- This marks the fifth attempt by the National Treasury to introduce this change, previously including requirements for taxpayers to pay a percentage of the disputed tax.
- Tax experts express concern that this could be abused and may lead to liquidity issues for businesses, potentially mirroring practices in Uganda and Tanzania.
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KRA Sweeping Powers in New Finance Bill - May 2026
The Kenya Revenue Authority is seeking expanded powers through Finance Bill 2026 that would allow them to freeze taxpayer bank accounts and assets even when a tax assessment is under appeal. PwC has separately warned that Kenya's Finance Bill 2026 could significantly increase the cost of digital payments and tighten tax on cross-border technology services. Meanwhile, Co-operative Bank of Kenya announced a 21.3 percent increase in first-quarter net profit to Sh8.41 billion for March 2026, driven by increased interest income and expansion in customer deposits and lending.
