How To file KRA VAT returns using the NEW TIMS management System
In order to streamline VAT collection and reduce instances of tax fraud, ETRs were initially implemented in Kenya in the year 2005. To help the trader account for the VAT charged at the moment of a sale, the ETR is a cash register with fiscal memory that preserves a record of all transactions. Electronic FiscalAre you selling goods or services online?
What is the effective date for VAT on Digital Market Supply in Kenya? 9th of October 2020 is the date the gazette notice was issued. What’s the 6-month transition clause. The regulations issued on 9th of October 2020 provided a transitional clause of up to 6 months expiring in April 2021 for taxpayers to alignRequirements for a KRA PIN in Kenya for both Locals and foreigners
Are you a foreigner or an Investor in kenya? Do you require KRA PIN?? Here is what you require What is a PIN? A Personal Identification Number (PIN) is a unique identifier issued to taxpayer (both individuals and non-individuals) to transact business with KRA and other government agencies and service providers as provided by theHow to handle KRA Assesments
Assessments issued under section 73(3) of the Income tax Act Section 73(3) empowers the Commissioner to raise an Assessment where a taxpayer fails to submit a return which Assessment is loosely referred to as “Estimated Assessments”. Once an Assessment is issued, it can only be vacated or amended upon receipt of a valid objection andUnderstanding VAT in businesses
Value Added Tax (VAT) VAT is an indirect tax that is paid by the person who consumes taxable goods and taxable services supplied in Kenya and/or imported into Kenya The tax is collected at designated points by VAT registered persons who act as the agents of the Government. VAT on imported services is paid by
Tax Health Check procedures
TAX HEALTH CHECKS The idea – similar to a regular medical check-up with your doctor now a health check of your organization’s tax affairs’ review of your business’s records and accounting systems with a view to: Identify any areas of risk in relation to tax Mitigate any tax risk Giving confidence in the level of
KRA M-Service App
How to use KRA M-service App works The app was unveiled in August this year and is available for download on Google Play store. According to Jacob Alert, M-Service’s project manager, the app will be available for iOS on Apple’s App Store in early 2021. He also said that the USSD version of the M-Service
How to Change or Remove Directors in a Company
How to Change or Remove Directors in a company How to Change or Remove Directors : Dennykins Associates is here for an organization to either change or remove directors, the institution has to ensure it abides by the change of directors guidelines in Kenya under Companies Act, No 17. At Dennykins Associates we are specialist
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