Corporation tax rate for a resident company has been reduced to Ksh 5 for each KShs 20. The rate has been reduced to 25%. The rate is applicable for the year of income 2020 and each subsequent year of income. This rate is also applicable to a resident insurance company which relates to its life […]
Residential Rental Income Tax:Section 6A,The Act has increased the upper limit of residential income which is subject to residential rental income tax from the current limit of 10 million to 15 million Kenya Shillings. The rate of tax in respect of residential rental income is ten percent of the gross rental receipts of a taxable […]
DEFINITION: SECTION 2 Meaning of license has been amended to mean; a. In case of excisable services, means the certificate of registration; b. In the case of excisable goods, means the license issued under section 17; or c. In the case of any activity under section 15 (1) (e), means the license required thereunder. INFLATION […]
We are encouraging tax payers to take advantage of the program below to save on penalties and interest in the first year. Section 37D has been added to the Act. It establishes a programme known as Voluntary Tax Disclosure Programme. The programme to disclose tax liabilities only accrued within a allows a taxpayer period of […]