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When Does a Capital Transaction Produce a Deductible Revenue Loss?
The Court of Appeal has held that debt-to-equity conversions may trigger deductible foreign exchange losses under Section 4A of the Income Tax Act where the underlying foreign currency loan financed revenue expenditure. The judgment provides important guidance for corporate restructurings, intercompany financing and tax dispute resolution.
Wamae & Allen LLP and Its Partners Recognised in the Chambers Global 2026 Rankings
Wamae & Allen LLP is proud to announce its distinguished recognition in the Chambers and...
When Does a Capital Transaction Produce a Deductible Revenue Loss?
The Court of Appeal has held that debt-to-equity conversions may trigger deductible foreign exchange losses under Section 4A of the Income Tax Act where the underlying foreign currency loan financed revenue expenditure. The judgment provides important guidance for corporate restructurings, intercompany financing and tax dispute resolution.
VAT Exemption on Land and Buildings
An analysis of the Court of Appeal decision in KRA v David Mwangi Ndegwa (Civil Appeal No. 65 of...
Court of Appeal reaffirms devolved access to justice allowing magistrates to hear land and employment cases
Jeremy Bentham, an 18th century English lawyer said, “The said truth is that it is the greatest...
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