News & Insights

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

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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

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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

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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

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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

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TAX AUDIT TRIGGERS | KRA PROMPTS IN KENYA

TAX AUDIT TRIGGERS| TAX PROMPTS IN KENYA A tax audit is examination, investigation, looking over or evaluating of books and records of accounts for taxation

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TAXATION OF MONTHLY RESIDENTIAL RENTAL INCOME (MRI) IN KENYA

TAXATION OF MONTHLY RESIDENTIAL RENTAL INCOME (MRI) IN KENYA The Finance Act 2015 introduced a new Section 6A in the Income Tax Act Cap 470

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EMPLOYEE VS CONSULTANTS CONTRACTS IN KENYA

EMPLOYEE VS CONSULTANTS CONTRACTS IN KENYA An employee is an individual who was hired by an employer to do a specific job. The employee is

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8% VAT ON KENYAN PETROLEUM PRODUCTS |NEW FINANCE ACT 2018 IN KENYA

THE FINANCE ACT 2018 IN KENYA The Finance bill 2018 was passed by the National Assembly on the 30th August 2018, and was presented to

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New Reduced Tax 2018 – GGC

New Reduced PAYE Tax Bands for Year 2018! Pursuant to the 2017/18 National Treasury budget and the new Finance Act 2017, the new PAYE tax

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OECD releases latest updates to the Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations

10/07/2017 – Today, the OECD releases the 2017 edition of the OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations. The OECD Transfer Pricing

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OECD Transfer Pricing Guidelines for Multinational Enterprises and Tax Administrations 2017

This 2017 edition of the OECD Transfer Pricing Guidelines incorporates the substantial revisions made in 2016 to reflect the clarifications and revisions agreed in the

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Typical Tax Challenges for SMEs

Typical Challenges for SMEs Failure to keep books of accounts & records such as sale invoices, purchase invoices, credit & debit notes, customs entries, audited

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NHIF Rates

NHIF Rates – Effective 1st April 2015, Gross Income (Kshs) premium 0-5,999 150 6,000 – 7,999 300 8000 – 11,999 400 12,000 – 14,999 500