aggregate Group information, including information on the amount of revenue, profit before tax, income tax paid, accrued tax, reported capital, accumulated profits, number of employees and property, plant and equipment other than cash or cash equivalents for each jurisdiction in which the Group is taxed; and Tax Notes provides daily news on all tax topics in the U.S. and abroad. Select a jurisdiction from the list provided to view up-to-date information. subject to Article 15(5A), the net gain resulting from the disposal of an interest in a person where the interest derives twenty per cent or more of its value directly or indirectly from immovable property in Kenya; and the 2020 Finance Act lifted previously granted exemptions for income from a Registered Home Savings Plan (HOSP). the profits or profits of a person from one of the seven sources of income referred to in point (e) of this Sub-Section or in this Sub-Section as `specified sources` shall be calculated separately from the profits of that person or profits from another of those sources and separately from any other income of that person; In determining the deductible amounts that employees and employers may contribute to registered funds, subsection (1) applies before paragraph 2 and paragraph 2 before subsection (3). Where, pursuant to paragraph 1 of this section, the amount of tax owing to a person for a fiscal year of income is affected by the tax deducted from the income referred to in Part VI B, the amount for which the tax is allocated, if the amount of tax is so reduced, shall be paid by the person to the trustee or to another person to whom the income is due as a result of the arrangement or, if there are more than one of those persons, it is distributed among those persons, as the case may be; and if a question arises as to the amount of a payment or division to be made under this subsection, that question shall be decided by the Commissioner, whose decision thereon shall be final. While businesses and partnerships can voluntarily register for VAT, they MUST register if their annual turnover exceeds Kshs. 5,000,000. a loan made by the person to another person represents at least seventy per cent of the book value of the other person`s total assets, excluding a loan from a financial institution not affiliated with the person making the loan; Betting, gambling and lottery companies are required to withhold 20% of winnings paid to winners as tax and remit them to KRA.
This is a tax that is paid in advance before a public vehicle or commercial vehicle is subject to an annual inspection. However, an arrangement is not considered revocable merely because its terms give the grantor the right to recover, directly or indirectly, control of the income or assets relating to the interests of a beneficiary under the arrangement if the beneficiary dies before the composition. Any direction issued by the Commissioner under this section shall specify the transaction or transactions leading to the direction and adjustments to the tax payable that the Commissioner considers appropriate.