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KRA Manager Reveals Details on How VAT will be Handled in Nairobi to all Land Tenants.

Income tax in Kenya is carried out by a company called Nairobi Tax Administration Agency (NTAA). They are responsible for handling all income tax-related matters within Nairobi. Wanja Nyamu, who manages Kenya's income taxes was speaking to the media (NTV).

The Kenya Revenue Authority (KRA) has started collecting data on rental properties in Nairobi. The KRA has partnered with the National Land Commission (NLC) to start the process of assessing property taxes for both commercial and residential properties.

The KRA is mandated by the Tax Act to collect data on the statement of rent paid by tenants. This means that tenants are obligated to provide data on their rental properties to the authority. The KRA will then charge a tax based on the type of property, either commercial or residential, as well as other charges such as rates and water charges.

The KRA is mandated to collect taxes from all taxpayers in Kenya, including those that are not registered with them. This means that you would be liable for paying taxes even if you do not have a KRA tax registration number or an account with them.

The National Treasury has released guidelines on how VAT will be collected.

The guidelines include:

1- Allowing businesses to charge VAT on goods at a rate of 14%.

2- Requiring them to charge VAT on services at a rate of 14%.

3- Allowing businesses to deduct VAT from payments made for inputs or services used in production.

Content created and supplied by: DANCUN890 (via Opera News )

NLC National Land Commission National Treasury Tax Act Wanja Nyamu


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