Voluntary tax disclosure program
For decades, if not since independence we have been battling perennial budget deficits and counter measures year in year out to overturn the situation. It would have been the case this fiscal year but the COVID-19 disruption threw the fisca….
Affordable housing in Kenya- case for right tax incentives
On 14th September 2020, the Cabinet Secretary, National Treasury and Planning made the retirement benefits (Mortgage Loans) (Amendments) Regulations, 2020. The regulations made in line with the housing pillar in the big four agenda allow ….
Solving Housing crisis in Kenya
The housing shortage in this country is a matter of dire concern. Reuter’s news agency in May 2019 reported that there was an estimated 200,000 annual housing shortfall expected to rise to 300,000 by 2020. One would expect this shortfall to ….
Why the newly introduced Minimum tax is an idea worth pursuing
The newly introduced minimum tax raises two contrasting perspectives to business losses. The opponents of this tax argue against taxing losses while the proponents argue that “losses” have to be taxed. What’s new with minimum tax? Businesses ….
Digital service tax in Kenya- a fair move in its time
When the 2019/2020 revenue performance was published, everyone was shocked as the performance was fairly above the expectations of many. Despite the Covid-19 pandemic striking and paralysing economic activities towards the end of the third ….
Covid-19 lesson: Kenya’s potential for self-funded development is tremendous
When the 2019/2020 revenue performance was published, everyone was shocked as the performance was fairly above the expectations of many. Despite the Covid-19 pandemic striking and paralysing economic activities towards the end of the third ….
Difference between tax avoidance and tax evasion
Layman’s definition of tax avoidance is reducing a tax payer’s liability without breaking the law. This is the most likely definition availed by search engines over the internet, you can try. Thus, tax avoidance sounds legal. Proponents of ….
Taxation of not for profit organizations in Kenya
INCOME TAX EXEMPTION – The incomes generated by not-for-profit organizations (NPOs) are exempted from taxation in Kenya. The income of an institution, body of persons or irrevocable trust is exempted from taxation provided the body is of a ….
Kenya’s economic potential points to a country capable of self-sustenance
Kenya’s economy is among world economies that Covid-19 has extensively suppressed over the last one year. Thousands have had to contend with substantial pay cuts as their employers endeavored to align to the tough times. In a report release ….
The taxman is justified in targeting flamboyant socialites
The Kenya Revenue Authority (KRA) has been trending across all media platforms after the commissioner general implied in a media statement that individuals displaying opulence on social media shall be subjected to tax. This has elicited a ….