The Kenya Revenue Authority (KRA) has secured a major victory in court after Appeal Court judges reversed a High Court declaration that Value Added Tax (VAT) is not payable on transactions for the sale or purchase of land and buildings, whether commercial or residential. The Court of Appeal said on [...]
Read MoreEmployees will contribute up to Sh4,320 monthly, up from Sh2,160, with employers matching the amounts.More details below:The adjustment will see the lower income limit rise to Sh8,000 (from Sh7,000) and the upper income limit to Sh72,000 (from Sh36,000).—Minimum contribution: Sh480 (from Sh420)—Maximum contribution: Sh3,840 (from Sh2,160)—Employees earning Sh50,000 will contribute [...]
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The current regime has embarked on increasing the tax base to collect more revenue, as the government moves towards its vision of ensuring it relies on revenues raised instead of loans to finance its operations.
In a significant policy reversal, the Kenya Revenue Authority (KRA) has rescinded its previous decision to exempt businesses with an annual turnover of Ksh5 million and below from producing invoices through the electronic Tax Invoice Management System (eTIMS)…
The current regime has embarked on increasing the tax base to collect more revenue, as the government moves towards its vision of ensuring it relies on revenues raised instead of loans to finance its operations.
The Kenya Revenue Authority (KRA) has instructed Kenyans seeking to file notices of objection to do so through the iTax platform. In a statement dated Tuesday, March 5, the tax authority also directed aggrieved taxpayers to send documents that cannot be uploaded on the platform via mail.
The National Social Security Fund( NSSF) will commence with the deduction of new increased rates following the ruling issued by the Supreme Court early this week. In a notice issued on Friday, NSSF directed employers to effect the new rates in the February payslips.
The Kenya Revenue Authority (KRA) has announced new dates for the implementation of pre- filled value- added tax (VAT) returns. In a statement, the taxman stated that the new policy would be implemented from February 2024 and not January 2024, as earlier directed. Initially, KRA had announced that the VAT return would be pre- filled with tax information available to…
Registration for the new medical scheme replacing the National Health Insurance Fund (NHIF) will begin next month. All Kenyans over 18 will register biometrically with the Social Health Authority (SHA), using their national ID cards, while those under 18 will use birth certificates.
The Federation of Kenya Employers (FKE) has instructed its members to halt the deduction of the housing levy following a court order. This directive will remain in effect until the Court of Appeal hears and decides on the appeal against the High Court’s ruling
Which tax laws came into effect on January 1? 1. Annual advance tax rate for vehicles One of the taxes effected on January 1 was the advance tax rate applicable to vans, pick- ups, trucks, prime movers, trailers, and lorries The tax saw an increase from the existing rate of KSh 1, 500 per tonne of load capacity…
The finance Act of 2022 amended the Income Tax Act [ITA], by increasing the rate of capital gains tax [CGT] from 5% to 15%. The tax took effect from 1st January 2023. The capital Gains Tax [CGT] is a tax that applies to the sale or transfer of property located in Kenya that was acquired on or after January 2015.