The Kenya Revenue Authority (KRA) issued a public notice on 22 September 2021 announcing the withdrawal of a ruling on the treatment of tax loss in computing profits with effect from 1 October 2021.
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Withdrawal of Ruling on Treatment of Tax Loss in Computing Profits
PUBLIC NOTICES 22/09/2021
Section 15(7) of the Income Tax Act Cap. 470 requires that a person who derives income from one or more specified sources will submit a separate account and a separate computation in respect of ea…