ADVOKS GLOBAL · KENYA
Tax Procedures Act
88A. Penalties for non-compliance with common reporting standard obligations
Edition: 2026-09-01 · In force
88A. Penalties for non-compliance with common reporting standard obligations
(1)A person who makes a false statement or omits any information required to be included in an information return under section 6B, shall be liable to a penalty of one hundred thousand shillings for each such false statement or omission to imprisonment for a term not exceeding three years or to both unless, in the case of information required in respect of another person, a reasonable effort was made by the person to obtain the information from that other person.(2)A reporting financial institution that fails to file an information return or a "nil" return when required under section 6B shall be liable to pay a penalty of one million shillings for each such failure.(3)A person who fails to comply with a duty or obligation under section 6B shall be liable, where no other penalty is prescribed, to a penalty of twenty thousand shillings, and twenty thousand shillings for each day during which non-compliance continues for a period not exceeding sixty days.