Any foreigner who wishes to work or reside in Kenya whether voluntarily or paid must have a work permit for them to be legally accepted by the Kenyan government. The residence or work permit is issued by the Department of Immigration Services. It is under the Citizenship and Immigration Act 2011, sections 36, 40,41, and 42, of the Laws […]
Thought For Accounting and Reporting Framework By CPA Mutitu Dennis The accountancy profession has a vital distinguishing aspect which is the acceptance of the role to act in the capacity to serve public interest. A professional responsibility of an accountant is not to satisfy the needs of employing organizations or individuals exclusively. Thus, the laws […]
Tax Amnesty – Finance Bill 2023 After the lifting all the conservatory orders standing in the way of the implementation of the Finance Act 2023, all that is stipulated in the bill is legally effective. Though the finance bill faced substantial disapproval, it has provided for techniques aimed at providing taxpayers relief. It is critical […]
Tax Advisory at Dennykins & Associates Tax comes into play in almost every aspect of the business. Therefore, it is vital to avoid losses related to taxes by seeking the right tax advice before you take on business transactions. Thus, planning taxes is best at the inception stage of the business. Nevertheless, there are instances […]
It is statutory for business entities to abide by regulations set by the constitution regarding business operations. Every country has a set of rules and regulations in place to ensure cohesiveness and transparency in the commercial sector. It is for this reason that dennykins and associates are committed to help new businesses and existing entities […]
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 Fiscal […]
Are 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 […]
What is a KRA 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 the 1st Schedule of the Tax Procedures Act How to apply for a PIN The application is online on […]
KRA Assesments 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 […]
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 […]
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