Interventions by the government to lower cost of living are negatively impacting revenue collection by the taxman. Kenya Revenue Authority (KRA) has admitted that the policy and administrative measures taken in the current year have negatively impacted its operations. Such interventions include reduction of duties and taxes…

When you have not planned to get money and it comes your way, does it become very difficult to plan for it thereafter? Winners of Jackpots, mega athletes, musicians, actors artists and other sportsmen and women fall in this category of people who sometimes sleep poor and wake up amongst…

The proposal by Kenya Revenue Authority (KRA) to have all Kenyans above 21 years be required to file tax returns, irrespective of whether they are earning an income, would see people being registered for tax at birth. If the above proposal is approved, KRA…

Someone shared a video on Twitter yesterday. In it, we found some invaluable lessons we thought we should share with our readers. Speaking in the video, Caroline Mutoko, an acclaimed radio presenter has these words for us: What you can’t afford, do without. The pressure to try and find an…

Have you ever thought that maybe the people who choose to go shopping guided by the wind in the pockets, without any budget, might know something that we do not know? The ones who randomly buy things without care or worry. One of those many ‘new research findings’ is claiming…

Imagine having to file your tax returns irrespective of whether you earn an income or not. Do you even know what filing your tax return entails? I am pretty sure most people have no clue. A quick spot check in the office revealed that most…

In an article on Richdad.com, Robert Kiyosaki, the author behind the best-selling book Rich Dad, Poor Dad startled me. He writes: The other day a friend of mine approached me excitedly, saying, “I found the house of my dreams. It’s in foreclosure and the bank will sell it…

At 3 a.m in Kahawa Wendani, a Kenyatta University student bends over his computer, reading and refreshing a page on the Internet. A mug of coffee sits next to him to help keep his eyes open. He scrolls down a page titled ‘available orders’. At some point, he clicks on…

More to join the tax bracket as pressure to increase revenue collection builds

Kenya Revenue Authority (KRA) is proposing to install a system that will capture and store every item one buys, a move aimed at facilitating better compliance in tax payment. Information of one’s purchases will be fed into KRA’s data base which will help cross-match…