Business Expenses: Keeping Track as a Sole Proprietor As an entrepreneur, you do a lot of activities daily; hence, your days are stressful. However, tracking your business spending helps in some ways. This would possibly show you wherever you are wasting cash and where you’ll be getting a lot of bang for your buck. Eliminating …
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Compliance with the VAT regulation 2020 -The Cabinet Secretary for National Treasury and designing through Legal notice 189 dated tenth September 2020 revealed the VAT Tax (Electronic Tax Invoice) Regulations, 2020 .L.N.-189—VAT-ELECTRONIC-TAX-INVOICE-REGULATIONS-2020.pdf) herein stated as “regulations”. These rules provided for the following: Adoption and usage of electronic tax invoicing or receipting systems by corporations as provided …
The 2019 Finance Act has re-introduced the turnover tax at the speed of 3% of the gross income. This tax was repealed by the Finance Act, 2018, and is applicable to any resident person whose annual turnover is below Kshs.5 million. Turnover tax is currently a monthly obligation collectible on or before the twentieth day …
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