News & Insights

News and Insights

Payment of Stamp Duty and Capital gains tax

Kenya Revenue Authority informs the public that it is in the process of simplifying the Stamp Duty payment process on the iTax system and thereby

News and Insights

Implementation of the Unified Payroll Return (PAYE/NSSF)

The Kenya Revenue Authority and National Social Security Fund(NSSF) would wish to inform the public that a unified payroll return has been developed for joint

News and Insights

Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit

FRINGE BENEFIT TAX For the purposes of Section 12B of the Income Tax Act, the Market Interest Rate is 7%. This rate shall be applicable

News and Insights

Provision for Bad Debts

In accordance with section 15(2)(a) of the Income tax Act, the Commissioner General issues guidelines on the provision for bad debts for tax purposes. The

News and Insights

Simplified process of Tax Compliance Certificates

Kenya Revenue Authority wishes to notify the public that it has enhanced the Tax Compliance Certificate (TCC) application process to a full self-serviced process managed

News and Insights

Validation of VAT credits

Kenya Revenue Authority reminds all registered taxpayers that it is a requirement under the law to make full and accurate disclosures of all taxable transactions

News and Insights

Migration of Legacy Ledger Balances to iTax

KRA is undertaking a reconciliation exercise of the taxpayers’ accounts in the old system to establish the correct tax balances. The balances will thereafter be

News and Insights

Tax Made Simpler – Turnover Tax and Presumptive tax

All Kenyans will now be paying their fair share of taxes. Following the recent amendments to the law, the government has introduced a simpler tax

Insights

TAX INVOICE MANAGEMENT SYSTEM (TIMS)

The Kenya Revenue Authority (KRA) is set to install new electronic tax registers that will give it real-time access to invoices issued by traders around

Insights, Resources

BUDGET 2019/2020 FINANCIAL YEAR

The National Treasury Cabinet Secretary Henry Rotich unveiled a Three Trillion National Budget on Thursday 13th June 2019 for the financial year 2019/2020. He proposed

Downloads, Resources

TAX OBLIGATIONS AND DEADLINES IN KENYA

TAX HEAD TAX PAYMENT DEADLINES 1 Corporation Tax – Installment Taxes 1st Installment By 20th of 4th month in the current year 2nd Installment By

Resources

VALUE ADDED TAX AUTO ASSESSMENT

  VAA Auto Assessment tool is expected to curb claims of fictitious and/or unsupported input tax by VAT registered persons and thereby enhance compliance.Detect any

Downloads, Resources

KRA TO ACCESS TAXPAYERS BANK ACCOUNT IN KENYA

KRA TO ACCESS AND MONITOR TAXPAYERS BANK ACCOUNTS IN KENYA For Tax purposes KRA now is able to monitor tax payers bank accounts. In a

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TAX AMNESTY IN KENYA ON FOREIGN EARNED INCOME

TAX AMNESTY IN KENYA ON FOREIGN EARNED INCOME UPDATES Tax amnesty is the opportunity given to taxpayers to write off an existing tax liability (including

Resources

NATIONAL HOUSING DEVELOPMENT FUND | THE FINANCE ACT 2018 – KENYA

NATIONAL HOUSING DEVELOPMENT FUND | THE FINANCE ACT 2018 – KENYA The Finance Act 2018 was enacted by adding the following on Section 86, thus