Tax Matters IV
See tax matters one, two and three. Corporation Taxes Corporation taxes are forms of income taxes that are levied on corporate bodies such as limited companies, trusts and co-operatives. In Kenya, Corporation taxes contribute 99% of the total…
Tax Matters III – Rental Income
See Tax Matters I here and Tax Matters 2 here. Notes You Should Take on Rental Income Taxation Dear Landlords, Landladies and faithful tenants. This affects you. First, you’ll need to note that Rental income is taxable under Section 3(2) (a) (iii) of…
The VAT Bill 2012 Broken Down
The VAT Bill 2012 has been a large topic of discussion. We take a look at taxes and exactly what the VAT bill 2012 entails.
Tax Break for Disabled Persons
Back in 2010, the Minister for Finance (and DPM) published The Persons With Disabilities (Income Tax Deductions and Exemptions) Order, 2010 whose aim is to exempt a part of the income earned by persons with disabilities from taxation. The first 150,000/= of ones income per month is exempt from tax but…
Group Life Cover – A benefit or Not?
Group life insurance could be counted as a benefit, this means it could be taxted. The Bean Counter looks at the implications of this, or whether it may even happen at all.
Tax Matters II
*People who complain about taxes can be classified into two, Men and Women (Anonymous) Following last week you may need to know the various types/categories of tax that are payable in Kenya. The Kenyan tax system features corporate and personal income tax, value…
COMESA Discuss Cheaper Visas in Region
Kenyans travelling into Common Market for East and Southern Africa (COMESA) countries may soon pay less for tourist taxes incured in member states. According to COMESA Business Council Secretary General, Trust Chikohora, the oragnisation is working on regional policies that will allow tax levies for packages…
KRA Alters Collection Procedures as Deadline Arrives
Due to increased diversion and use of counterfeit cheques, the Kenya Revenue Authority (KRA) has changed its tax collection methods. Taxpayers paying more than KES 100, 000 and Less than KES 1 Million will be required to use the Electronic Funds Transfer (EFT) facility. Alternatively, taxpayers can…
KRA Logbook Delays Infuriate Everyone
Automobile dealers in Kenya and their clients have been hit by the effects of logbook delays at KRA. Previously, it took just two weeks to get logbooks but today, it may take upto a month to get the same. This has resulted to slow…
Tax Matters : I
So how do your dues get to Ceaser? Here’s a simple breakdown: Take note, Taxable Income=Gross Income less allowable deductions Your Gross Income=Basic salary+Allowances *Allowable deductions refer to all contribution towards a pension or a provident scheme. If Wanjiku’s Gross monthly income is…
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