Record Keeping For Tax Purposes
Keeping accurate records is one definite way of tax planning and remaining compliant to the tax laws. Unfortunately, it calls for discipline and investment in time and resources. However the benefits outweighs the cost. The seriousness of the matter becomes more vivid in case of a tax assessment by tax authorities In March 2020, The High
Record Keeping For Tax Purposes Read More »
Keeping accurate records is one definite way of tax planning and remaining compliant to the tax laws. Unfortunately, it calls for discipline and investment in time and resources. However the benefits outweighs the cost. The seriousness of the matter becomes more vivid in case of a tax assessment by tax authorities In March 2020, The High
Minimum Tax Explained
KRA has introduced a minimum tax regime, effective 01.01.2021 with minimum tax payable at 1% of gross turnover (Sales) regardless of whether or not they make any profits.The minimum tax will not be applicable to exempt income, employment income, residential rental income, capital gains, and persons undertaking mining or upstream oil and gas activities and
Minimum Tax Explained Read More »
KRA has introduced a minimum tax regime, effective 01.01.2021 with minimum tax payable at 1% of gross turnover (Sales) regardless of whether or not they make any profits.The minimum tax will not be applicable to exempt income, employment income, residential rental income, capital gains, and persons undertaking mining or upstream oil and gas activities and
Why a Tax Invoice is Not Enough Proof In VAA Disputes
The Tax Appeals Tribunal on 22nd October 2020 ruled that it is not enough for a taxpayer to provide a tax invoice in order to claim input VAT. Tax invoice is among the documents listed in Section 17 of the VAT Act 2013 in Kenya. In the ruling that upheld the Kenya Revenue Authority’s (KRA)
Why a Tax Invoice is Not Enough Proof In VAA Disputes Read More »
The Tax Appeals Tribunal on 22nd October 2020 ruled that it is not enough for a taxpayer to provide a tax invoice in order to claim input VAT. Tax invoice is among the documents listed in Section 17 of the VAT Act 2013 in Kenya. In the ruling that upheld the Kenya Revenue Authority’s (KRA)