Search Results for: tax exemptions
Unpacking the new PAYE tax rates
(Blog) 08/02/2021
The Tax Laws Amendment Act, 2020 dated 25th April 2020 introduced a raft of fiscal measures, aimed at cushioning Kenyans against the harsh economic effects of the Covid -19 Pandemic. Amongst these measures ...
(Public Notices) 04/01/2021
Kenya Revenue Authority informs the public on changes of tax rates introduced through the Tax Laws (Amendment) No. 2 Act of 2020 which was published on 24th December, 2020 with respect to employment income, ...
Taxation of Not-for Profit Organisations
(Blog) 26/10/2020
... as health, relief, agriculture, education, and the provision of social amenities and services. They must be registered with the relevant body for them to operate in Kenya. Do NPOs pay tax? NPOs rely ...
Tax Amendments aimed at cushioning Taxpayers from effects of COVID-19 Pandemic
(Blog) 14/08/2020
The year 2020 has seen major amendments in the law. Most of the changes are aimed at cushioning taxpayers from the detrimental effects of Covid-19. The Finance Act 2020 was passed by the National Assembly ...
(Taxation for Small Traders) 19/02/2020
What is Turnover Tax (TOT)? • Turnover Tax is a tax charged on businesses whose gross turnover is more than Kshs. 1,000,000 but does not exceed or is not expected to exceed Kshs. 25, 000,000 during any ...
(File & Pay) 07/01/2020
What is Turnover Tax (TOT)? Turnover Tax is a tax charged on businesses whose gross turnover is more than Kshs. 1,000,000 but does not exceed or is not expected to exceed Kshs. 25, 000,000 during any ...
New iTax enhancement boosts July 2019 Capital Gains Tax Revenue Performance
(Press Release) 26/08/2019
The Kenya Revenue Authority (KRA) has enhanced the iTax system to reflect exemptions in transactions that attract Capital Gains Tax (CGT). Capital Gains Tax is a tax chargeable on the transfer of a property ...
Flushing in Maryland reminds residents of the taxman
(Blog) 26/07/2019
... hand on the flush handle, pulls or presses the handle, the taxman comes to the picture. Since 2004, a normal toilet flush has never been the same for residents of Maryland State. It is the year the Maryland ...
(Glossary) 16/08/2018
Tax laws frequently provide specific exemptions for persons, items or transactions, etc. which would otherwise be taxed. Exemptions may be given for social, economic or other reasons.
What is Capital Gains Tax (CGT)?
(File & Pay) 28/06/2018
CGT is tax that is levied on:– Gains which accrued to a company, an individual or partnership on or after 1st January 2015 on transfer of property situated in Kenya, acquired on or before January 2015. ...
(Taxation for Companies & Partnerships) 07/06/2018
Income tax is a tax charged for each year of income, upon all the income of a person whether resident or non-resident, which is accrued in or was derived from Kenya. Income Tax is imposed on; Business ...
KRA Records 11.1% Growth in Revenue Collection
(Press Release) 08/07/2024
... by the Central Bank of Kenya. In summary, inflation averaged at 6.22% in FY 2023/24, compared to an average of 8.78% in FY 2022/2023. Customs and Domestic Taxes Performance During the financial ...
HIGHLIGHTS OF THE FINANCE ACT 2023
(Highlights of the Finance Act 2023) 08/08/2023
Download the Finance Act INCOME TAX ACT Amendments to the taxation of employment income: Amounts received by an employee as payment of travelling allowance to perform official ...
KRA Sustains Revenue Growth Despite Economic Shocks
(Press Release) 14/07/2023
... against the target. Exchequer revenue constitutes all the mainstream Government revenues, i.e., Taxes on International Trade and Transactions, Excise taxes, Taxes on Income, Profits and Capital gains, ...
Guidelines for Returning Residents
(Kenyans Living Abroad) 31/08/2022
Who is a returning resident? A returning resident is a KENYAN CITIZEN changing residence from a place outside Kenya to a place within Kenya. What are the taxes exempted and what legislation supports ...
(Public Notices) 10/12/2021
... the exemption pending automation of the exemption process through the iTax platform. The applicant, who must be a manufacturer licenced by the Commissioner pursuant to Section 15(1) (d) of the Excise ...
KRA SUSTAINS UPWARD REVENUE TRAJECTORY IN QUARTER 2
(Press Release) 08/11/2021
... after collecting Kshs.57.374 Billion against a set target of Kshs.51.200 Billion reflecting a performance rate of 112.1 per cent and a surplus of Ksh.6 Billion. Domestic Taxes recorded a performance ...
KRA SUSTAINS OUTSTANDING REVENUE PERFORMANCE TREND
(Press Release) 04/04/2021
... to taxpayers. In the fourth month running, Customs & Border Control (C&BC) Department continued to record excellent performance after achieving a growth of 47.3% with a revenue collection of Kshs 60.751 ...
JANUARY 2021 REVENUE PERFORMANCE A REFLECTION OF KENYA’S ECONOMIC RESURGENCE
(Press Release) 08/02/2021
... Corporation Tax rate to 30% from 25%, among other policy initiatives. The revision of these tax rates meant an increase in the revenue that KRA collects. In January, the Customs & Border Control (C&BC) ...
December Revenue Performance a Reflection of Kenya's Economic Recovery Prospect
(Press Release) 18/01/2021
... revenue mobilisation over the years. The Domestic Taxes Department also registered the highest collection rate of 91.1% since the start of the covid-19 pandemic. During the month under review, Pay As ...
