Taxlenspert

26/03/2024

Hello All! Anyone needs advise in the following:

1. How to minimise CGT exposure upon exercise of a call option?
2. How to creatively minimise CGT exposure on sale of land ( Let's say the land was free hold and now has been subdivided into a lease hold for sale purposes)
3. How to create the optimal tax beneficial structure for someone who owns a land and intends to build cottages, will it be prudent for one company to own both or can these be owned by different entities? If so how can one minimise on CGT exposure upon sale of such assets?
4. Other than a business maximizing on deductable expenses, I can also help to minimise tax payable

12/03/2024

https://www.businessdailyafrica.com/bd/economy/kra-calls-out-employers-for-denying-pwds-disability-pay--4553108

KRA has called out some employers for illegally denying their workers with disability Sh36,700 monthly tax reliefs.

11/03/2024

https://www.kiplinger.com/taxes/602075/most-overlooked-tax-breaks-and-deductions

Don’t miss these often overlooked tax deductions and credits when you file your tax return this year.

06/03/2024

https://www.kenyans.co.ke/news/98263-kra-directs-kenyans-submit-tax-objections-itax-platform

The taxman detailed the avenues Kenyans can use to file the notices of objections.

29/02/2024

https://www.linkedin.com/pulse/5-major-ways-avoid-tax-saving-through-pension-scheme-wycliffe/

Pensions play a crucial role in financial planning and retirement savings. In Kenya, individuals can take advantage of pension schemes not only to secure their future but also to maximize tax savings.

29/02/2024

https://www.businessdailyafrica.com/bd/corporate/companies/seven-seas-to-pay-kra-sh900-million-in-taxes--4518648

Seven Seas will pay KRA Sh900.4 million after losing a case against the agency at the Tax Appeals Tribunal.

29/02/2024

https://www.businessdailyafrica.com/bd/corporate/companies/banks-start-sharing-customer-data-balances-with-kra--4518988

Banks have started sharing information about foreign account holders with KRA.

15/01/2024

https://www.businessdailyafrica.com/bd/corporate/technology/treasury-ok-firms-to-develop-alternative-tax-systems-to-etims-4488928

This is a major boost for businesses for high-traffic businesses which cannot include all the buyer’s details in the tax invoice to be compliant.

18/12/2023

https://www-businessdailyafrica-com.cdn.ampproject.org/c/s/www.businessdailyafrica.com/bd/economy/kra-builds-new-system-for-smes-after-e-tims-uproar--4467310?view=htmlamp

Small businesses will only be required to show a record of transactions rather than generate electronic invoices as the Kenya Revenue Authority works on a separate system to accommodate their operations.

01/12/2023

https://www.linkedin.com/pulse/vat-pipeline-tax-cpa-wanja-mbugua-gytrf?utm_source=share&utm_medium=member_android&utm_campaign=share_via

As a business do you have a VAT obligation? Do you even know who is eligible for VAT obligation? Let’s get to understand this today as the whole craze on TIMs compliance takes effect with a little more “seriousness” than has been running for the better part of 2023, yeah, TIMs compliance took ...

27/11/2023

https://www.businessdailyafrica.com/bd/opinion-analysis/columnists/electronic-tax-invoice-tool-could-hit-hustlers-hard--4444046

First, people seeking to comply with the new law will stop engaging small traders effectively killing their trade and ending their source of livelihoods.