...

Filing of Annual Tax Returns is Back Again

Tedious paperwork plus long queues are back, notwithstanding a non-responsive website portal for online taxpayers. The Kenya Revenue Authority (KRA) Commissioner General John Njiraini has disclosed that the amendments made through Finance Bill 2012 will require all salaried employees to file and submit income tax returns with effect from calendar year 2012.
...

Half Year Tax Collections Up 12.6%

The Kenya Revenue Authority (KRA) announced its revenue collection performance for the first half of the year 2012/2013, collecting over KES 380 billion between July-December 2012 compared to KES 338 billion the previous year. That is a 12.6% growth.
...

iTax-Because We Need More Tax Efficiency

The Kenya Revenue Authority (KRA) will soon be rolling out an online system for the administration of domestic taxes in a bid to expand it’s revenue collection. The system which is set to be fully launched by June 2013 is currently being piloted in 120 companies, including large…
...

Understanding Kenya's Complex Tax System;There's a Book for That

Just what are the reasons why you MUST pay taxes? To understand that and tonnes of all other garbage you never quite seemed to understand about taxes, the matter just got simplified. Institute of Economic Affairs has published a book, "A citizen’s Handbook on Taxation in Kenya" that will have you sorted on this subject.
...

Annual Custom Taxes Expected to Drop by KES 16.5 Billion

Kenya’s annual custom tax collection is expected to drop by KES 16.5 billion ($193.8 million) . This will come about if tariffs on European products are removed under a proposed economic pact. South Centre, an international policy institution, has said that the direct revenue loss would outstrip the KES 10.4 billion ($121.8 million) that Kenya would realise from increased trade with Europe.
...

Of Removed and Suspended Taxes

There are some taxes that were once levied but as it stands today, they are no longer being levied. Whats are some of these taxes and what could possibly been the cause of their removal?
...

Government Plans for Capital Gains Tax on Oil Exploration Blocks

The government is in the process of working out a formula for taxing proceeds from oil explorers in the country. This has led to suspension of the sell of oil exploration blocks. Energy minister Kiraitu Murungi said during the East Africa Gas and Oil Summit 2012 that no firm will…
...

VAT Bill 2012 Set for 2013

The VAT Bill 2012, which is part of the ongoing tax reforms in the country which aim at increasing revenues, will be introduced next year after the general election. The treasury has said so.
...

Withholding VAT Could Be Coming Back

The government is considering bringing back the law that will allow withholding of VAT. This comes after a poor collection on VAT and the treasury says that it has noted that there has been a fall in ordinary revenues from VAT, which comes after the Treasury did away with the withholding tax regime so that firms wont surrender cash and reclaim it from the Kenya Revenue Authority (KRA).
...

Kenya's Tax History III – Independent Kenya

Independent Kenya has had income tax, corporation tax, trade taxes and excise taxes. The value-added taxes were introduced later. We take a look at taxes in independent Kenya.
1
...

Abacus is the result of over 10 years market experience and is licensed as a data vendor by the Nairobi Securities Exchange

Contact Us

Email: hello@abacus.co.ke
Tel: +254 792 753 774