Employment Benefit Conveyed To Director- Securex Agencies Kenya Vs KRA
A director of the above-named company lived in a building owned by the company. KRA raised a tax demand for Shs 18,480,485 as income tax arrears falling under Pay as you earn. The contention was whether a director is an employee of a …
Withholding Tax on Credit & Debit Cards – KRA Vs Barclays Bank
Barclays bank used credit and debit cards from credit card companies namely VISA, Master card and American express. KRA demanded withholding tax on the amounts payable by the bank to credit card companies and on management fees for the service charges to…
Withholding tax on accrued expense – KRA vs Fintel limited
Fintel ltd engaged China Jiangsu International Economic Technical Co-operation for the construction of a rental building on April 21, 2009. Fintel was then to pay a contractual fee to the Chinese company, which they delayed and accounted for as a liability in their financial..
Taxation of Churches in Kenya
The income of churches is exempt from tax in Kenya. Paragraph 10 of the first schedule of the income tax Act CAP 470 laws of Kenya exempts institutions established for the advancement of religion. Some churches run business ventures like hotels, transport, Radio station….
Taxation of Retirement Benefits in Kenya (Pension Benefits)
An individual’s contribution to a registered pension or provident fund is an allowable deduction against the taxable income. The deductible amount is the actual contribution made by the employee to the scheme….
Electric Buses offer way out of Transport Chaos
It takes two to tango, that’s so true in business. Every transaction has two parties involved. Every seller must have a buyer, every employee must have an employer and every service provider must have a service recipient. Therefore for each transaction….
Green taxes in Kenya
LIt is time we give a thought to our activities and their contribution to greenhouse gases, taxes come in handy as tool of controlling economic choices.
It is in the best interest of the planet that we carefully consider putting green taxes in our National tax policy,…
Withholding Tax in Kenya
Withholding tax is a system of collecting tax whereby a party making payment of certain income is required to withhold tax at a specified rate. The Tax withheld has to be remitted to KRA by 20th Day of the month following the month in which the tax was deducted…
Installment Tax Return in Kenya
Installment tax return allows taxpayers to pay tax as the current year of income progresses. The installment tax should be submitted as follows For ordinary taxpayers 1st installment to be submitted by the 20th of the fourth month…
Tax evasion in Kenya – Pairing taxpayers might be the answer
Barclays bank used credit and debit cards from credit card companies namely VISA, Master card and American express. KRA demanded withholding tax on the amounts payable by the bank to credit card companies and on management fees for the service charges to…