Search Results for: withholding tax
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 ...
Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit
(Public Notices) 17/01/2023
... INTEREST RATE For purposes of section 16(2)(ja) of the Income Tax Act , the prescribed rate of interest is 9%. This rate is applicable for the months of January, February and March 2023. Withholding ...
DEVELOPMENT OF INCOME TAX (FINANCIAL DERIVATIVES) REGULATIONS, 2022
(Public Notices) 16/11/2022
The Finance Act 2022 introduced a 15% withholding tax on income from financial derivatives contracts earned by a non-resident person through an amendment to Section 3(2) of the Income Tax Act, Cap 470. ...
FRINGE BENEFIT TAX AND DEEMED INTEREST RATE
(Public Notices) 01/11/2022
... INTEREST RATE For purposes of section 16(2) (ja) of the Income Tax Act, the prescribed rate of interest is 9%. This rate is applicable for the months of October, November and December 2022. Withholding ...
(Kenyans Living Abroad) 31/08/2022
... the rent income is between Kshs.288,000 (Kshs. 24,000 per month) and Kshs.15 million per annum. On or before the 20th of the following month Other tax obligations include; Withholding ...
Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit
(Public Notices) 01/08/2022
... BENEFIT For purposes of section 5(2A), the prescribed rate of interest is 7%. This rate is applicable for the months of July, August, September, October, November and December 2022. Withholding tax ...
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 ...
Fringe Benefit Tax and Deemed Interest Rate
(Public Notices) 13/04/2022
... RATE For purposes of section 16(5), the prescribed rate of interest is 7%. This is applicable for the months of April, May and June 2022. Withholding tax rate of 15% on the deemed interest shall be ...
Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit
(Public Notices) 12/01/2022
... Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner by the 20th day of the month following the month of computation. Commissioner of Domestic Taxes ...
(Blog) 14/12/2021
... and professional services income subjected to withholding tax that is final tax, such as qualifying dividends or qualifying interests and TOT does not apply to non-resident taxpayers What are ...
Turnover Tax designed to make small businesses more compliant
(Blog) 16/11/2021
... income, professional and training fees, and any income that is subject to a final withholding tax. Additionally, Persons with business income below Kshs. 1,000,000 and above Kshs. 50,000,000 per annum ...
Court upholds KRA’s tax assessment of KShs. 800 Million against Space Investments Limited.
(Press Release) 11/11/2021
The High Court has upheld tax assessments issued by the Kenya Revenue Authority for Withholding Tax and Corporation Tax against Space Investments Limited. The taxpayer had challenged the finding of the ...
Fringe Benefit Tax & Deemed Interest Rate
(Public Notices) 18/10/2021
... This is applicable for the months of October, November and December 2021. Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner by 20th of the month following ...
Implications of The Finance Act 2021 on Digital Service Tax (DST).
(Blog) 12/08/2021
... is approved by the Commissioner. What incomes are exempt from Digital Service Tax? Income subject to Withholding Tax Online services provided by Government institution Non-resident person ...
Fringe Benefit Tax, Deemed Interest Rate and Low Interest Benefit
(Public Notices) 05/07/2021
... 5(2A), the prescribed rate of interest is 7%. This is applicable for the months of July, August ,September, October, November and December 2021. Withholding tax rate of 15% on the deemed interest shall ...
Agency in dams contracts to pay KShs. 643 million tax
(Press Release) 08/06/2021
... assessment of withholding tax amounting to KShs. 643,394,426. The assessment is based on the failure by the Agency to deduct taxes when it was paying CMC Di Ravenna, an Italian company contracted to ...
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 ...
Fringe Benefit Tax and Deemed Interest Rate - April 2021
(Public Notices) 28/04/2021
... of April, May and June 2021. Withholding tax rate of 15% on the deemed interest shall be deducted and paid to the Commissioner by the 20th day of the month following the month of computation. Commissioner ...
East African Revenue Authorities Seek a United Front on Taxing Digital Economy
(News) 06/04/2021
... in form of withholding tax, payable at 1.5% of the gross transaction value at the time of transfer of payment to the service provider, and is offset against corporation tax payable at the end of the financial ...
Fringe Benefit Tax (FB) , Deemed Interest Rate And Low Interest Benefit
(Public Notices) 19/01/2021
... DEEMED INTEREST RATE For purposes of section 16(5), the prescribed rate of interest is 7%. This is applicable for the months of January, February and March 2021. Withholding tax rate of 15% on ...
