VAT in Kenya
Equity bank established an employee share ownership scheme in 2005 for purposes of encouraging their employees to acquire shares in the company. In a compliance audit carried out by KRA in 2016 on PAYE remittances, it was established that…
Filing Nil Returns in Kenya
Equity bank established an employee share ownership scheme in 2005 for purposes of encouraging their employees to acquire shares in the company. In a compliance audit carried out by KRA in 2016 on PAYE remittances, it was established that…
Taxing The Digital Economy In Kenya
Equity bank established an employee share ownership scheme in 2005 for purposes of encouraging their employees to acquire shares in the company. In a compliance audit carried out by KRA in 2016 on PAYE remittances, it was established that…
Legal Period For Keeping Tax Records- Republic V Commissioner Of Domestic Taxes (Large Taxpayers Office) Ex-Parte Unilever Tea Kenya Limited (2007]
On 8th March 2007, the respondent communicated to the applicant wherein it demanded payment of Value Added Tax and documents which allegedly related to supplies which had been made more than 5 years before the assessment…
Withholding VAT in Kenya
KRA appoints certain persons to be VAT withholding agents. The agents withhold VAT at 2% of the total amount payable. Thus if you sold an item at Sh. 116 (inclusive of VAT) to withholding agent, he will withhold Sh.2 thus pay Sh. 114…
Taxation of Insurance Compensation – Commissioner of Domestic Taxes Vs Sony Holdings Ltd.
Sony Holdings Ltd a property developer owns the Westgate mall which was attacked by terrorists on 21 September 2013. The mall was out of business for some years following the incident and would later receive Sh 4.4 Billion in compensatio…
Change of capital deduction rate- Commissioner of Domestic Taxes Vs Sony Holdings Ltd.
Sony Holdings Ltd completed the construction of Westgate mall in 2007. In 2016 the filed for an amended assessment for the year of income 2010 to 2015 to allow the claim Sh. 6.4 Billion Industrial Building deduction at 25% following an a…
Employee Share ownership plan- Equity bank Vs KRA
Equity bank established an employee share ownership scheme in 2005 for purposes of encouraging their employees to acquire shares in the company. In a compliance audit carried out by KRA in 2016 on PAYE remittances, it was established that…
Tax on sale of Land Ruaraka Diversified Investments Ltd Vs KRA
Ruaraka diversified investments ltd sold property to Garden city ltd and Safaricom Plc where the Garden city mall sits. The company argued that the sale of land was subject to capital gains tax and went ahead to request for a private rul…
KRA Vs Paleah Ltd- A case of tax assessment through third party information
Paleah Stores Ltd. a provisions store based in Embu had been under paying tax between the years 2008 and 2014 based on what they termed as bad professional advice. Through an investigation conducted through their bank accounts it was …