Tax alert – Tax changes effective 2021
KRA informs the public on changes to corporation tax rates through the Tax Laws (Amendment) act published on April 25, 2020, and the tax laws (amendment) act no. 2 of 2020 published on December 24, 2020, which provided for resident corporation tax rate of 25% and 30% respectively. In light of the above, corporation tax rates shall apply as follows.
Kenya made changes to the tax rates through the Tax Laws (Amendment) Act No. 2 of 2020 published on 24 December 2020 and Legal notice No. 206 of 2020 published on 2 December 2020. The legal notice No. 206 and the Tax Laws (amendment) enacted the cessation of some of the tax relief measures extended…
Pay-As-You-Earn (PAYE) is a method of collecting tax from individuals in gainful employment, in Kenya. Gains or Profits includes wages, casual wages, salary, leave pay, sick pay, payment in lieu of leave, fees, commission, bonus, gratuity, or subsistence, traveling, entertainment or other allowance received in respect of employment or services rendered. If you are an…
The deadline for acquiring a new ETR Machine with TIMS enabled features is 31st July 2022. The Value Added Tax (Electronic Tax Invoice) Regulations, 2020 were gazetted on 25th September 2020 through a legal notice 189 of 2020 and introduced the Tax Invoice Management System (TIMS). The TIMS system is aimed at automating the VAT…