Search Results for: advance tax
Draft Income Tax [Advance Tax] Rules, 2024
(Downloads) 13/06/2025
Draft Income Tax [Advance Tax] Rules, 2024
Does the levying of Turnover Tax and Presumptive Tax amount to double taxation?
(Faq) 13/06/2025
Does the levying of Turnover Tax and Presumptive Tax amount to double taxation?
(Category) 10/09/2018
What is advance Tax? This is a tax paid in advance before a public service vehicle or commercial vehicle is licensed at the rates applicable. What are the tax rates for advance tax? ...
(Category) 07/06/2018
... should pay in installments via iTax. This is called Installment Tax. Read about filing & paying Installment Tax below. 3. Installment Tax Installment Tax is paid in advance at four equal ...
Commercial vehicle owners required to pay advance tax.
(Blog) 25/05/2022
... as Advance Tax which is payable every year of income at the specified rates on or before 20th January. Looking at some of the definitions as per the Income Tax Act Cap 470; An owner of a commercial ...
Requirements for Taxpayer Reconciliation of Legacy System Ledger Balances
(Migrated Legacy System Balances) 23/10/2024
... Legacy System but made some payments in iTax or payments are in one system while the return is in the other, the following will assist in making the necessary adjustments; - Withholding and Advance ...
Tax Authorities Urged to Embrace Technology and Collaboration for Revenue Growth
(Press Release) 08/10/2024
Prime Cabinet Secretary and Cabinet Secretary for Foreign and Diaspora Affairs, H.E. Dr. Musalia Mudavadi, has called on tax administrations to harness the power of rapid technological advancements driving ...
KRA Commissioner General Applauds African Countries' Efforts in Modernizing Tax Administrations.
(Press Release) 29/05/2024
... Park Hotel in Nairobi, Mr. Wattanga highlighted that Africa's tax future will be shaped by demographic trends, technological advancements, global economic dynamics, and evolving tax policy debates. “Key ...
Have you Filed your 2024 Tax Returns?
(File Your 2023 Returns.) 27/02/2023
... Other Sources of Income (Business, Farming, Rental, etc.) Book of Accounts – these include an income statement, a balance sheet, copies of withholding certificates (if any), and a record of any advance ...
(Kenyans Living Abroad) 31/08/2022
About KRA The Kenya Revenue Authority (KRA) was created by an Act of Parliament (Chapter 469 of the laws of Kenya) in July 1995 to collect, administer and account for revenue on behalf of the Government ...
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 ...
International transport firm ordered to remit KShs.189 million tax
(Press Release) 16/02/2022
An international company with business interest in transport sector has been ordered to pay KRA taxes amounting to KShs.189,027,638. In a judgment delivered on 4th February 2022, the Tax Appeals Tribunal ...
KRA recognizes Ministry of Interior for being tax compliant
(Press Release) 14/07/2021
... PAYE and also paying taxes both on time, and in advance before due date. Speaking during the handing over ceremony of the award at the Ministry of Interior & Coordination of National Government offices, ...
Updated Resident Corporation Tax Return
(Public Notices) 01/06/2021
... shall allow for offsetting of tax credits like Digital Service Tax (DST), Minimum Tax, Advance Tax, Withholding Tax and Instalment Tax paid during the accounting period, against the established tax liability ...
Understanding Corporate Income Tax
(Blog) 25/05/2021
... in what is known as instalment tax. The instalment tax is tax paid in advance and is due and payable by 20th of the 4th, 6th, 9th and 12th month of a company’s accounting period. Upon determination of ...
(Blog) 17/03/2021
... a final tax? Depending on the nature of a transaction, Withholding Tax can be a final tax or an advance payment. When it is made as an advance payment, it is used to offset the recipient’s tax liability ...
Demystifying Digital Services Tax
(Blog) 27/01/2021
... in Kenya. DST will be an advance tax that they will offset against the income taxes due at the end of the financial year. For non-residents and companies without a permanent establishment in Kenya, DST ...
