image_pdfimage_print

Compliance with VAT regulations 2020

The Value Added Tax (Electronic Tax Invoice) Regulations 2020 were published in by the Cabinet Secretary for National Treasury and Planning through Legal notice 189 dated 10th September 2020.

The regulation states that every VAT-registered business or tax payer must have a tax register in place by August 1, 2022, and it must be able to communicate data to KRA in real time and adhere to all other requirements outlined in the laws.

It is advised that you get in touch with the ETR vendors listed on the KRA website. 

Failure to abide by these regulations will result in a fine of no more than KES 1 million, imprisonment, or both.

Tax Obligation
Due Dates

VAT, MRI, WHT, WHT VAT, DST & TOT

On or before the 20th of the following month

PAYE

On or before the 9th of the following month

Filing Corporate & individual income tax return

Due on or before the sixth month after accounting year end

First installment tax *

On or before the 20th of the fourth month after accounting year end.

Second installment tax*

On or before the 20th of the sixth month after accounting year end

Third Installment tax*

On or before the 20th of the ninth month after accounting year end

Final Tax*

On or before the 30th of the fourth month after accounting year end

For more information contact

Nimrod Kurgat

CPA NIMROD KURGAT

PARTNER, TAX, AUDIT & IT

CPA Nimrod is a Partner of the firm in charge of Audit, Tax and IT. He holds a Bachelor of Commerce Degree (Finance Option) from the Catholic University of Eastern Africa. He is a member of the Institute of Certified Public Accountants (Reg. No.6969) and a member of the Information Systems Audit and Control Association (ISACA). He is also a Certified Information Systems Auditor (CISA).

Was this article INSIGHTFUL?

Subscribe
SUBSCRIBE NOW

Join Our Newsletter Today 

Stay updated with all latest updates,upcoming events & much more.
close-link