Tax Preparation Services
Businesses are required to register with the Kenya Revenue Authority for a Tax PIN. Depending on the nature and scope of business activities they are involved in, businesses must register for all applicable tax obligations. The following is a list of Taxes payable by resident businesses in Kenya; VAT(Value Added Tax) ToT(Turnover Tax) MRI(Monthly rent […]
Key Insights on Major Proposals in Tax Law (Amendments) and Tax Procedures (Amendments) Bills, 2024.
The Tax Laws (Amendment) Bill, 2024 and Tax Procedures (Amendment) Bill, 2024 come following the rejection of the Finance Bill 2024 in an effort for the Government to revisit some of the provisions that had been proposed in the Finance Bill 2024. The Finance Bill 2024 had sought to introduce significant tax law changes which […]
Understanding Corporate Income Tax in Kenya: Key Insights
Understanding corporate income tax in Kenya is crucial for any business. Corporate income tax is charged against a business’s annual profit. The following organizations are required to pay an annual corporate income tax: Resident companies, Resident companies with business activities outside Kenya on income derived from outside Kenya, Non-resident companies on income attributed to a […]
What is External Audit? Understanding Its Importance and Necessity for Businesses
At its core, an external audit is an independent examination of financial statements and related operations conducted by a qualified auditor who is not part of the organization being audited. This process ensures that the financial statements are accurate, reliable, and comply with applicable laws and regulations. The role of external auditors extends beyond merely […]
Top Reasons You Need a Reliable Corporate Consultant During Restructuring
https://www.youtube.com/watch?v=kSXdX9fCdQ8 When navigating the complexities of major restructuring, such as mergers and acquisitions, having a reliable corporate consultant by your side is not just beneficial; it’s essential. One of the top reasons for this is the significant tax implications that arise during these processes. A knowledgeable consultant can help you identify potential tax liabilities and […]
Registering your Small Business for Long-term Success
Registering your business is an important step in ensuring its success, and it is a chance you cannot afford to pass up. This process not only legitimizes your firm, but it also provides access to a plethora of perks that can move your business forward. In today’s competitive landscape, taking the step is imperative for […]
The Basics of Branch Taxation in Kenya
Related Registering a Foreign Company Step-by-Step Process for Registering a Branch of a Foreign Company in Kenya A branch is a local office or division of a larger company that operates under the parent organization’s name and brand. Branches are typically located in different geographical areas and exist to extend the reach and operations of […]
Step-by-Step Process for Registering a Branch of a Foreign Company in Kenya
Registering a Foreign Company Related The Basics of Branch Taxation in Kenya After successfully registering a Branch of a foreign company, and being issued a Certificate of Compliance, the next step is to register with the Kenya Revenue Authority (KRA) to procure a PIN certificate. A foreign company refers to a company incorporated outside Kenya. […]
The way forward for Employers and Employees Regarding contributions of the Affordable Housing Levy: After the Ruling on the Finance Act 2023.
The court of Appeal on 31st July 2024 ruled on Civil Appeal No. E003 of 2023 ordering the Finance Act 2023 unconstitutional. Subsequently, it is expected that from now on, the tax laws and regulations that had been affected by the Finance Act 2023 may revert to provisions under the Finance Act 2022. On the […]
A Guide To Outsourced Accounting
And why you should consider using Outsourced Accounting. Understand what is Outsourced Accounting When it comes to managing the financial aspects of your business, outsourcing your accounting functions can be a game-changer. Outsourced accounting is the practice of entrusting your accounting and financial management tasks to a third-party provider, allowing you to focus on the […]