TAXATION

We provide advisory and compliance services that enable our clients to honor their personal, corporate tax, VAT, CGT, STAMP DUTY, PAYE, and employee tax obligations in a cost-effective manner. We prepare individual income tax returns, company tax returns, and organizations.

We are aware that one meeting, once a year with the tax preparer, is insufficient to give adequate tax guidance. That is why we have taken up a relationship-driven approach to provide you with valuable tax planning strategies and tax compliance consultancy all year round.

This means you can move toward your goals with confidence, believing that the guidance we are offering is based on our solid understanding of tax regulations as they apply to your specific situation.

Income Tax

Income tax is a yearly tax imposed on any income earned in or generated from Kenya,
regardless of whether the person is a resident or a non-resident.

Depending on the source of revenue, there are many techniques for collecting income tax from corporations and partnerships.

This is a way of collecting tax at the source from those who work for a living.

Companies and partnerships with workers must deduct tax at the present rate from their employees’ salary or earnings on each payday for a month and remit it to KRA by the 9th of the following month.

Pay as You Earn

Value Added Tax

VAT is levied on the supply of taxable products or services manufactured or given in Kenya, as well as the importation of taxable goods or services into Kenya.

While businesses and partnerships can voluntarily register for VAT, they are required to do so if their yearly sales exceeds Kshs. 5,000, 000.

KRA appoints agents to withhold and pay VAT on supplies made in order to ease compliance. These agents may be validated using iTax’s agent checker.

Betting Tax is imposed at a rate of 15% on a bookmaker’s gross gaming revenue (GGR), as stated by Section 29A of the Betting, Lotteries and Gaming Act, 1966.

Businesses in the betting, gaming, and lottery industries are required to withhold 20% of wins as tax and pay it to the KRA.

Beginning November 7, 2019, excise duty on betting will be charged at a rate of 20% of the amount wagered or staked.

Betting Tax

Rental Income Tax

This is a tax on rental revenue. Rental revenue is taxed differently depending on whether it was rented for home or commercial usage.Individuals, partnerships, and corporations that rent property to others for residential or commercial purposes must pay income tax on the rent they receive.

This is a tax levied on the whole gain realized by a corporation or individual upon the transfer of property situated in Kenya, regardless of whether the property was bought before January 1, 2015. It took effect on January 1st, 2015.

Capita gain tax Cgt

Excise

This is an excise charge imposed on items made in Kenya or imported into Kenya, as stipulated in the Excise Duty Act, 2015’s first schedule.Excise tax must be paid by companies and partnerships that trade in excisable goods and services.

Stamp duty is a tax levied on the transfer of property , stock, and shares. It is collected by the Ministry of Lands, which has delegated the responsibility to the Kenya Revenue Authority (KRA). KRA Refunds

Stamp duty

Kenya Diaspora Tax Services

This program is designed to assist Kenyans living and working abroad in complying with Kenyan tax laws.

Welcome to Meclon Tax & Consultancy Ltd

Due Dates