Among the taxes administered in Kenya, the value added tax (VAT) is one of the prime taxes impacting business owners. This guide will take you through the basics of Kenya VAT—from its rates to registration and returns—so you can stay compliant and carry your business forward with ease!
Withholding VATin Kenya Withholding VAT is a tax charged at a rate of 2% on the value of taxable supplies, effective from 07/11/2019. No VAT is withheld on exempt goods, exempt services, and Zero-rated supplies. However, any VAT withheld on exempt and Zero-rated supplies is considered as...
GST (Good and Service Tax) is a value-added tax applied to the cost of certain goods and services. Learn more about what GST is in this guide by QuickBooks.
The Kenya Revenue Agency (KRA) introduced the electronic tax invoice in an attempt to adopt the advances in technology and increase compliance from taxpayers. The main goal of introducing electronic tax invoices is to streamline VAT administration in Kenya through the Tax Invoice Management System (...
tapering relief1st January 2015. Kenya re-introduced Capital Gains Tax which had been suspended in 1985 so as to encourage growth in the real estate and capital markets sectordoi:10.2139/ssrn.2648284Gatuyu , JusticeSocial Science Electronic Publishing...
1. What are the requirements for ETR in Kenya A complying ETR should be capable of the following: Before sending the tax invoice to the customer, double-check the invoice data (tax rate, taxable value, total tax, and total gross amount). ...
Import taxis a flat tax rate charged by customs on imports. In many cases, the tax is equal to the local sales tax. Even when the goods have been purchased abroad, this consumption tax will still apply when they enter a different country. Examples include sales tax and value-added tax (...
PRIMEAfter tricky year, Kenya to formalise China policy Jan 30 -3 min read Experts have warned that Kenya, like many other countries in sub Saharan Africa, is likely to be jolted by this slowdown in the Chinese economy. “Kenya’s reliance on China for such a significant portion of its...
Kenya is one of the fastest growing economies in Africa as well as in the East African region. It offers a plethora of opportunities in financial, communication and transportation sectors. More so, the two countries have forward-thinking economies that focus on development, prosperity,...
This in turn creates a more organized importing/exporting structure and a good guideline for countries wanting to implement new regulations. How to find the HS code The responsibility of providing the HS code is always that of the shipper, so you’ll need to carry out a harmonized code ...