Valmerk Business Ventures

18/06/2016

TAX ADVISE
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If you have KRA PIN you MUST file tax returns. This is not optional it's a MUST. Deadline 30th June

Take a look at the following penalties according to Tax Procedures Act (TPA) 2015

√ Failure to comply with tax electronic system (read itax) - Kshs 100,000

√ Failure to file tax returns Kshs 1,500

√ Late filing - Kshs 10,000 or 25% of tax payable whichever is greater.

√ Tax avoidance _ 200% of Tax Payable

Why file returns?

Filing Tax returns is every citizen responsibility.

All of us dream of successful life. You will need to acquire assets or establish a business empire. This is where KRA will get you.

Filing returns is a Compliance issue. It doesn't mean that KRA will track your incomes.

If you file NIL returns and you are earning millions is there a risk??

You may need professional services or guidance to make sure you select the CORRECT tax obligations.

Wrong choice = Hefty fines.

You can post your queries about itax here.

15/06/2016

NEED HELP filing your iTax KRA Returns 2015? Contact us. Deadline 30th June

09/03/2016

What are the benefits of the Simplified Rental Tax?

a)Simplified tax computation at 10% flat rate on gross rent instead of the 10%-30% rates in the current regime.
b) Landlords shall not be required to produce records to account for expenses.
c)This will be a final tax thus landlords will not be required to file annual returns if they do not have other incomes.
d) Compliance will be easy and cost effective.

04/03/2016

The exceptions to paying the simplified of 10% on rental income will not apply if:
a) The rental income is from a commercial property
b) The landlord notifies the Commissioner in writing not to be subjected to the tax.
c) The landlord is non-resident
d) The landlord earns rental income in excess of Ksh 10 million annually.

24/02/2016

Are you a landlord and receiving rental income?
You need to file your tax return via iTax and pay the tax due by the 20th of following month following the receipt of rent. Contact us

23/02/2016

The rental income tax payable by individuals or companies will now be 10% of the gross rental income. This will apply as long as the rental income does not exceed Ksh 10 million per annum.

22/02/2016

Q: What is residential rental income tax?

A: This is the tax payable by any resident person (individual or company) from income received in rent on residential property in Kenya.

Contact us for more

19/02/2016

Have you filed VAT for the month of January???? Deadline is tomorrow 20/02/2016. For more information contact us.

17/02/2016

16/02/2016

Regιѕтer a вυѕιneѕѕ naмe ғor 3,000/-

02/02/2016

Get a registered company for 25,000/- or a registered business name for 4,500/- call 0771-722607