M-Kopa Must Pay Taxes to Kenya After Losing Appeal
M-KOPA Holding, an asset financing startup, must now pay taxes in Kenya after losing an appeal at a tax tribunal. The startup appealed against a $6.8 million tax demand for 2017 to 2019, arguing that it’s incorporated in the UK.
M-KOPA’s argument, based on the Kenya-United Kingdom Double Taxation Treaty (DTT), was that it is managed and controlled from the UK and therefore exempt from Kenyan taxes. However, the tribunal dismissed this claim.
Photo courtesy of Images Money.
Source: TechCabal (link opens in a new window)
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