As of October 1, 2024, the Ministry of Health has implemented the Social Health Insurance Act (SHIA), marking a shift from the National Hospital Insurance Fund (NHIF) to the new Social Health Insurance Fund (SHIF). Governed by the Social Health Authority (SHA), this transition aims to provide more comprehensive healthcare coverage for all Kenyans. Employer […]
At Juma Auditors, we understand that managing your business’s financial records can be a daunting task. To alleviate this burden, we offer comprehensive monthly accounting services, allowing you to benefit from a dedicated accounting department without incurring significant costs.
If you are looking for a reputable tax agency in Kenya to take care of your business tax filing and help you get the best possible tax refund, then look no further. At Juma Auditors, our team of tax experts can manage all of your tax needs.
In Kenya, every individual or entity with a Personal Identification Number (KRA PIN) issued by the Kenya Revenue Authority (KRA) is required to file tax returns. The KRA provides an online portal (iTax) for filing returns, making the process quick and straightforward. However, failure to file on time results in penalties.
Taxpayers should note that in case of any discrepancies between the Revenue Laws and this information, the Revenue Laws will take precedence. The Finance Act 2023 has introduced a tax amnesty for interest and penalties on tax debt by incorporating Section 37E into the Tax Procedures Act, 2015. The amnesty applies to: The Finance Act, […]
Value Added Tax (VAT) is an indirect tax applicable to the consumption of taxable goods and services in Kenya and on imported items. It’s paid by the end consumer for goods and services supplied within Kenya or brought into the country. Eligibility for VAT Registration Any entity supplying taxable goods and services, with a value […]
In a significant move to modernize tax administration, the Kenyan government has set a deadline for non-registered taxpayers to become eTIMS compliant by March 31, 2024. The eTax and Integrated Management System (eTIMS) is an initiative by the Kenya Revenue Authority (KRA) aimed at enhancing efficiency, transparency, and accountability in tax collection. This article delves […]
Loan facilities come in handy with the need for that extra cash. Some employers offer loans to their employees at interest rates lower than market rate. This is an employment benefit to the employee(s) which is subject to a tax known as Fringe Benefit Tax (FBT).
Gains which accrued to a company, an individual or partnership on or after 1st January 2015 on transfer of property situated in Kenya, acquired on or before January 2015.Gains arising from the sale of shares or comparable interests in foreign entities which derive more than 20% of their value directly or indirectly from immovable property […]