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…

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…

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…

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…

Members of parliament have threatened to shoot down the supplementary budget presented by the Ministry of Finance today. The Legislators claim that treasury in tabling supplementary estimates should be informed based on what should have accrued from taxes if parliament had passed Finance Bill 2011-2012. They now want the supplementary…

The speaker of the national assembly will give a ruling on the fate of the Finance Bill 2011-2012 tomorrow afternoon. The contentious bill which is long overdue has had legislators pointing accusing fingers at the executive for trying to handle budget matters without consulting relevant commissions. Garsen MP Danson Mungatana…

Parliament resumes sitting today where it is expected to discuss the troubled Finance Bill that is long overdue, among other crucial bills. The Finance Bill which contains the amended VAT bill has proposals by several members of the August house to cap interest rates on loans and remove the 12%…

Capital punishment:  The income tax.  ~Jeff Hayes I’ll admit it, I hate paying taxes, moreover income tax. The pain of having to helplessly watch the tax collector take a significant part of my hard earned cash drives me crazy, but there’s nothing I can do since it’s my…

Finance Minister Njeru Githae says he will table the troubled Finance Bill when parliament resumes on 17th of April. Githae said treasury and the parliament had agreed on everything except the additional revenue that the Kenya Revenue Authority (KRA) has collected from January 2012 to date. The…