uliza @Wakanyama juzi amekutwa pale pigsty na kukamuliwa hkm na watu wake
kwanza wanatembea na maAP
nice info here…
Is there a time limit after which KRA cannot look into your tax issue?
I know in other jurisdictions there is such a thing.Think in USA its 6years…Kuna kitu kama hiyo Kenya?
@Okiya, njoo hapa. Does our statute of limitations apply to taxation matters?
If he has a spare room ,he can register his home address as a office fo rhis bussiness. He can then charge part of his rent/mortgage , phone bills, electricity , printers , computer and few seats to his company.
I am not very conversant with Kenyan tax laws.
@Wakanyama do yoi support your tenants to be paying their 10% tax directly to KRA ama utaenda kushine macho kwa mlango wao na panga na bloody kabuti ukidai haki yako?
Thats the worst thing you can do. Kuna kitu inaitwa PAYE, which is almost 30% of the salary. Compare to corporate tax, which is 30% of profit. The opposite is what works well.
Sasa hapa ndio kampuni husaidia.
Depends with the size of your company.
@Ka-Buda ask your friend to register a company in Mauritius and then acquire this other company so that it can become a subsidiary. Then the Mauritian company should bill the other company higher amounts of intercompany expenses. This will reduce the taxable income in the subsidiary where taxes are high. However, the accountant should come up with a fool proof transfer pricing policy in case he is challenged.
No. It was in one of Kibaki’s early speeches in 2002 and Michael Waweru then head of Kra took it up
You have to keep records for 7(?) years. However, where fraud is suspected the tax authorities can go as far back as they want
For those advocating for a company yes there are advantages however not all expenses incurred by a company are tax allowable. Tax allowable expenses are those directly incurred to generate taxable income. Paying yourself a premium salary will still attract PAYE. The best way is to engage creative accounting and that cannot be discussed in an open forum such as this. Snitches.
Manze… Na vile nimekua nikifile nil returns for years… sipati biz…