The Kenya Revenue Authority has finally declared the mega event in the KRA calendar stipulated to take course tomorrow, the 20th day of March, 2022. Addressing Kenyans via its official Twitter page account, the Kenya Revenue Authority articulated that tomorrow will be the deadline for filing and paying the imminent Turnover Tax Returns.
The Kenya Revenue Authority has delivered a crucial message to Kenyans concerning the imminent 2021 income tax return. Speaking via its official Twitter page account, the kenya revenue Authority urged Kenyans to file the above Stated category of tax returns early enough in a move geared towards evading last minute rush.
The Kenya Revenue Authority, KRA has announced tomorrow, the 20th day of February, 2022 as the deadline date for filing and paying a category of tax returns. Speaking via its official Twitter page account, KRA articulated that the stated date is the instituted deadline for making payments and filing returns for the imminent monthly Rental Income Tax (MRI) cohort.
As National Treasury Cabinet Secretary Ukur Yatani gives the Budget declaration in Parliament today, expect little adjustments in new taxes and incentives, according to tax specialists. Mr Yatani will detail the Sh3.3 trillion Budget's main spending areas for the fiscal year 2022/23, as well as how it will be financed in a difficult economic environment still rattled by the repercussions of Covid-19.
When it comes to filling returns Kenyans have to file their returns or else they will have to pay a penalty fee of ksh. 2,000. The deadline of filling of returns is June 30th. To file Nil returns do the following; 1) Open your browser.
Kenyans are paying tax that greatly help in running the country's budget.Unfortunately,the huge budget that is already above Ksh 3T has been a great challenge in funding it.This has left the country to keep on borrowing huge sums of money.However,the Government is determined to let all Kenyans be taken care of.
Kenya Revenue Authority has dropped another special message to all Kenyans living in the mentioned parts of the world pertaining tax compliance. According the report shared through social media platforms, all Kenyans living in the diaspora have been urged to file their returns for 2021. Therefore the complexity of the collection of taxes from these individuals is partly because for those living and working abroad, the income they earn there or may not be subject to tax in Kenya.
Photo/Courtesy Kenyans have been urged to apply for the Voluntary Tax Disclosure Programme offered by the Kenya Revenue Authority. It has been revealed that all taxpayers who will be able to apply for the Voluntary Tax Disclosure in time will get a 100% remission on interest and penalties on undisclosed taxes accrued between July 2015 and 30th June 2020.
The hike in costs of food products, gas as well as the mini pandemic that was caused by the inadequate fuel supply, are some of the economic issues that Kenyans are hoping the budget reading set to be delivered on Thursday can address in future. The reading is set to be delivered by treasury CS Ukur Yattani who addressed the media before the budget had been brought before Parliament.
When the Finance Act 2022 comes into force on January 1st next year, the cost of living for Kenyans could soon be even higher. According to the bill, corn, wheat and cassava flour will be subject to a 16 percent sales tax, while potatoes and ice cream will be subject to a 15 percent consumption tax.
The national tax regulatory agency Kenya Revenue Authority (KRA) has introduced a hike in taxes charged that will see both the gamblers and the betting firms affected. Effective immediately, the Kenya Revenue Authority (KRA) has introduced a 20 percent tax on the total amount of stakes payable to the tax firm before betting.
The recent reading of the budget by the cabinet secretary for finance has finally announced the way they are planning to have their budget for the next financial year. The budget comprised of various important factors that are going to stimulate various sectors of the economy especially the farming sector.
The tax agency Kenya Revenue Authority (KRA) has pointed an accusing finger to Keroche Breweries Limited for collecting taxes from its consumers, but failing to remit the same to the taxman. KRA was speaking in response to justifying its decision to ban operations by the breweries in February, over a Ksh332 million unpaid tax.
The Kenya Revenue Authority (KRA) has defended its move to shut down Keroche Breweries Limited, stating that the firm consistently failed to honour payment plans agreed upon by the two parties. In a statement dated Tuesday, March 8, the government agency noted that Keroche had reneged on the agreement made by the two parties for the Ksh351 million tax that was overdue.
Kenya Revenue Authority has today sent a message to all Kenyans concerning the 100 per cent tax remission. According to Kenya Revenue Authority tomorrow 31st December 2021 is the last day for one to get a 100 per cent remission on the penalities and also the interest earned between July 2015 to 30th June 2020.
The Central Bank of Kenya (CBK),has released a well-thought-out discussion paper detailing why it is important to officially launch digital currencies in Kenya. In the document released on Thursday, February 10, CBK has explained in detail how the new Central Bank Digital Currency (CBDC) will be applied once it is rolled out in the country.
Kenyans now have a reason to worry as the government of Kenya is now seeking to replace Huduma Namba with the Kenya Revenue Authority (KRA) PIN, this is in a move to curb tax evasion by Kenyans, the government seeks to make the Huduma Namba ID an identifier of taxpayers.The Huduma Namba assigned to an individual under the Huduma Act, 2021 shall now serve as the PIN for the purpose of tax law, the children who have been offered the Huduma Namba will automatically be listed as taxpayers once they attain 18 years and will be required to file tax returns annually regardless of their income status.This move is after KRA realised that most people evade tax by failing to file their returns.
Inflation is a situation where the general prices of goods and services in a particular country or region are riding. Occurs when there is an upward trend in prices of all commodities . When prices of commodities increases, then the value of money will buy less of a commodity than before the inflation set in.
Due to the increased cases of increased tax cheats Kenya Revenue Authority is set to soon nullify the former KRA pins and start using Huduma Number as the new KRA pins.This move will lower the cases by a great percentage since the Huduma Numbers are to be used for various purposes in different organisations.
Nigeria’s senate has successfully passed finance bill which includes provisions that demands that, non-resident firms such as Facebook, Google, twitter, Netflix and others pay tax from revenue they generate from users in Nigeria. The country which has a population of over 200 million people serves a larger market for these platforms.