Tax exemptions for KenGen removed in new law changes

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Business Daily | by Victor Juma

Power producer KenGen is braced for increased taxation running into hundreds of millions of shillings after the Finance Act 2020 took away exemptions on electricity plants and introduced new ones.

The move will end the Nairobi Securities Exchange-listed firm’s previous practice of paying the taxes and later claiming refunds, with the amounts boosting its “other income” when they are received from Kenya Revenue Authority.

KenGen, for instance, received a Sh391 million refund in the year ended June 2019 after claiming Railway Development Levy (RDL) on…

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