Search Results for: PAYE NEW RATES
Will we revert to the old PAYE tax rates immediately the pandemic is over?
(Faq) 06/05/2025
Will we revert to the old PAYE tax rates immediately the pandemic is over?
Will the implementation of the new PAYE tax rates affect my 2020 annual returns next year?
(Faq) 06/05/2025
Will the implementation of the new PAYE tax rates affect my 2020 annual returns next year?
(Faq) 06/05/2025
Most employers had already closed their April payrolls using the old PAYE rates by the time the new tax relief measures came into effect. What is the effective date of the new rates and what is the way ...
How do the new tax rates apply when filing PAYE returns?
(Faq) 06/05/2025
How do the new tax rates apply when filing PAYE returns?
Unpacking the new PAYE tax rates
(Blog) 08/02/2021
... or KShs. 16,896 to KShs. 28,800 per annum respectively. The following PAYE tax bands took effect on 1st April 2020 for taxation of employment income earned between April and December 2020: PAYE Tax ...
New PAYE rates apply to all benefits and emoluments earned in April
(Press Release) 07/05/2020
As the deadline for filing of April Pay as You Earn (PAYE) returns nears, the Kenya Revenue Authority (KRA) would like to remind all employers that the new PAYE rates shall apply as stipulated in the Tax ...
KRA issues accounting guidelines for Corporate Tax rates for the Years of Income 2020 and 2021
(Press Release) 27/01/2021
... in the period on or after 1st January the applicable rate is 30%. “Taxpayers whose accounting period ends after 1st January 2021, shall determine the income for the accounting period and apportion the ...
(Public Notices) 04/01/2021
... income with effect from 1st January, 2021. The first monthly PAYE return under the new rate shall be due by 9th February, 2021. Individual Income Tax Bands and applicable rates Tax Band Rate ...
KRA Records 11.1% Growth in Revenue Collection
(Press Release) 08/07/2024
... among VAT-registered taxpayers. It is important to note that Domestic VAT average monthly collection growth scaled up to 17.5% in the year under review. The monthly average collection stood at Kshs. ...
Harnessing collective action for effective anti-corruption efforts in tax administration.
(Blog) 30/04/2024
... government agencies, businesses, taxpayers, other revenue administrations, and oversight bodies is crucial for effectively addressing corruption. This article explores how collective action plays a pivotal ...
HIGHLIGHTS OF THE FINANCE ACT 2023
(Highlights of the Finance Act 2023) 08/08/2023
... Offset or refund of overpaid tax Taxpayers will have the right to utilise overpayments for any outstanding debts. Refund of overpaid tax to be within 6 months from the date of ascertainment; ...
(Taxation for Companies & Partnerships) 04/04/2023
... Taxpayers can verify the codes from the list of goods and services listed in the First and Second schedules of the VAT Act. Frequently Asked Questions have been developed to assist taxpayers before ...
An Introspective look into Tax Incentives
(Blog) 21/12/2022
... This may assist the National Treasury and the Authority to weed out those incentives that may have been irregularly used by taxpayers to gain an unfair advantage, to the detriment of tax revenues. b) ...
Wealth Tax: A Solution to Inequality in Africa
(Blog) 21/12/2022
Wealth Tax, also called “Equity Tax” refers to a tax levied on the total or market value of a taxpayer’s personal assets that may include their bank deposits, company shares, fixed assets, cash, motor ...
The Race to The Bottom and The Global Minimum Corporate Tax Proposal
(Blog) 23/09/2022
By Alan Kasibwa This famous phrase was coined by Justice Louis Brandeis in 1933 in his judgement in the case Liggett V. Lee and is a tact employed by developing countries to lower their corporate tax ...
KRA EXCEEDS REVISED TARGET, RECORDS HIGHEST REVENUE GROWTH IN HISTORY
(Press Release) 07/07/2022
... patriotic taxpayers who contributed to the collection of revenue surplus of KShs. 148.9 Billion against the original target, which is the highest surplus ever in KRA’s history. This also enabled The Authority ...
Do you Know your Tax Obligation?
(Blog) 27/04/2022
... rate and at the prescribed time. Some Ways of Collecting Income Tax Pay As You Earn (PAYE) Withholding Tax Installment Tax Advance Tax Turnover Tax Capital Gains Tax PAYE for example ...
Changes to Stamp Duty Payment to enhance Ease of Doing Business
(Blog) 26/11/2021
One of the functions of KRA is to partner with other entities to collect revenue on their behalf. This is known as agency revenue, with Stamp duty being one of them. What is Stamp Duty? Stamp Duty ...
Have you filed your 2020 Income Tax Returns?
(Blog) 03/06/2021
... in tax laws. Most of the changes were aimed at cushioning taxpayers against detrimental effects of Covid-19. The Tax Laws (Amendment) Act(No.1) of 2020 that was effected on 25th April 2020 introduced new ...
