Tax Affix Limited

Are You at Risk of Company Deregistration? Here’s What You Need to Know

Leave a Comment / Company Deregistration /

In October 2024, the Registrar of Companies in Kenya issued a directive on company deregistration requiring all companies to file their Register of Beneficial Owners by 30 November 2024, in line with the Companies Act, 2015. Following the deadline, the Registrar identified companies that have not filed annual returns or financial statements for 5+ years […]

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Illustration for the transition from NHIF to SHIF medical insurance in Kenya

NHIF to SHIF: Key Compliance Guidelines for the New Regulations

Leave a Comment / SHIF, Social Health Insurance Fund /

Amidst court tussles, the Court of Appeal granted a stay order to allow the rollout of the Kenya Social Health Insurance Fund (SHIF) as scheduled. This was followed by a public notice by the Ministry of Health declaring 1st October 2024 as the first date of transition to SHIF. Payments received before 9th October 2024

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Contractors and suppliers discussing the new levy order 2023 enacted by the Public Procurement Regulatory Authority.

New Levy Order 2023 on Government Contractors and Suppliers Starting September 

Leave a Comment / New Levy Order 2023, Tax Changes /

New Levy Order 2023 in summary:  The Kenyan government has applied a new levy on contractors supplying goods and services to the country’s national and county governments. The government officially set the new levy in effect through the Public Procurement Regulatory Authority (PPRA). Through the Levy Order, 2023, PPRA mandates that the new levy takes

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An accountant performing ledger reconciliation for his company's legacy ledger balances.

WHY BUSINESSES HAVE UNTIL DECEMBER 2024 TO RECONCILE THEIR LEGACY LEDGER BALANCES WITH KRA

Leave a Comment / Uncategorized /

Have you recently been impacted by unusually new tax balances on your KRA iTax portal? Well, it might be because of the migration of your legacy ledger balances to iTax by the Kenya Revenue Authority (KRA).   On February 14, 2020, KRA issued a public notice notifying all taxpayers of its intention to undertake a reconciliation

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UNDERSTANDING THE PENALTIES FOR LATE KRA TAX RETURNS FILING IN KENYA

UNDERSTANDING THE PENALTIES FOR LATE KRA TAX RETURNS FILING IN KENYA

Leave a Comment / Tax Laws, Tax Penalties & Interests /

Filing KRA tax returns can be a tough nut to crack for many individuals and businesses in Kenya. Therefore, it is essential to understand the taxes that one is eligible to file and pay, as well as their specific deadlines. This is in order to stay informed and file tax returns on time to avoid

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Capital Gains Tax: What You Need To Know

Leave a Comment / Capital Gains, Capital Gains Tax, Tax Changes, Tax Laws /

What is Capital Gains Tax (CGT)? Capital Gains Tax (CGT) is a tax that is levied on gains that a company, individual, or partnership makes from the transfer of property situated in Kenya. CGT is applied regardless of whether the property was acquired before January 1, 2015. In addition, CGT is also levied on gains

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Tax Dispute Resolution Methods Cover

Demystifying the 4 Methods of Tax Dispute Resolution In Kenya

1 Comment / Tax Dispute Resolution, Tax Disputes, Tax Laws /

In Kenya, a tax dispute may arise when the Kenya Revenue Authority (KRA) issues an additional tax assessment on your business. This is after an audit or a compliance check. Alternatively, interpreting the facts involved in any dispute, the applicable law, or both can also lead to a tax dispute. During the dispute and tax

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Article: How Hospitality Entrepreneurs Can Reduce Their Tax Burden in Kenya

From Airbnb to Hotels: How Hospitality Entrepreneurs Can Minimise Tax Burdens in Kenya

Leave a Comment / Airbnb Mombasa, Airbnb Nairobi, Guest house, Hospitality Entrepreneurs, Hotel, Tax Laws /

Hospitality entrepreneurs operating cottages, guest houses, hotels, holiday homes, and Airbnb should be aware of several taxes they may be subject to. This article sheds light on the applicable tax regulations for your business. In addition, we highlight key record-keeping techniques to help you minimise your tax liability and avoid penalties. Below are some of

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