Category: Kenya

PLANT OPERATOR QUALIFICATION REQUIREMENTS AND ROLES

ADMIN

PLANT OPERATOR: This is the person responsible for operating the complex machinery in the plant. An operator is also responsible for supervising or controlling all or some machinery in the plant/firm. PLANT: A plant refers to a site where specific processes takes place. It also refers to a place where an industrial process takes place or even complex construction. Often a plant is mistaken for a factory. A factory is the actual place where industrial processes takes place, manufacturing or production. Often consisting of several complex building filled with machineries…

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What is Rental Income?:KRA Itax Services

ADMIN

Rental Income Taxation Under Annual Regime Rent is charged on actual amount received Expense incurred to generate rent is allowed under section 15 of the Income Tax Act. Tax is calculated under individual graduated scale or corporate rate of 30% In addition, rent on non-residential buildings (Commercial) is taxable under the VAT Act(No. 35 of 2013) – Laws of Kenya. How to determine Taxable Income Gross Rent income for the year: Property A – 5 unitsKshs. 20,00012months                           …

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What is Income Tax? : KRA Itax Services

ADMIN

Individual Income Tax Individual Income Tax is charged for each year of income on all the income of a person, whether resident or non-resident, which accrued in or was derived from Kenya. Individual Tax Bands and Rates With effect from 1st January, 2021  Tax Bands Annual  Monthly  Rates On the first Shs. 288,000 Shs. 24,000 10% On the next Shs. 100,000 Shs. 8,333 25% On all income in excess of Shs. 388,000 Shs. 32,333 30% Personal Relief of Kshs. 28,800 per annum (Kshs. 2,400 per month). for the year 2022 Taxation for Non- Resident’s Employment Income…

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GETTING STARTED ON KRA PIN WHY & HOW TO ACQUIRE ONE

ADMIN

A PIN is a Personal Identification Number used while doing business with Kenya Revenue Authority, other Government agencies and service providers. Personal includes both individuals and artificial persons (i.e. company, club, Trust, etc.) A sole proprietorship will use the proprietor?s individual PIN for all transactions. Who should have a PIN? You are required to have a PIN if you; Are employed Are in business Have rental income Wish to apply for a HELB Loan Want to perform any of the transactions listed below When can I use the KRA PIN? The most…

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KRA PIN application requirements

ADMIN

I Residents ·      National ID/Alien ID Card details ·      Employers’ PIN details for those who are employed. ·      Business registration certificate details for those in business. II Non-Kenyan employee(Residing in Kenya)  ·      Letter of introduction by employer ·      PIN of employer ·      Original Valid Passport of the applicant ·      Valid work permit or special pass of applicant with the name of employer on the permit. ·      Confirm endorsement of work permit in the passport ·      KRA PIN application acknowledgement receipt. III Non-Kenyan Investors ·      Letter of introduction by a tax…

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MOMBASA COUNTY TRADE LICENSE ACTIVITY CODE/ BUSINESS UNITS CODES

ADMIN

SN CODE ACTIVITY CODE PRICE 176 638 Port operational facilities (including ferries, sea ports, airports, dry ports, wharfs) 177 639 Petroleum and related products bulk storage and handling 178 640 Non-renewable energy production and distribution storage 179 641 Railways terminals 165 117 Miraa / Mugoka Shop Exclusive License 166 206 Mobile non-motorized food vending carts 167 616 Small tours and travel agents (1-5 Employees) 168 617 Medium tours and travel agents (5-10 Employees) 169 618 Large tours and travel agents (Over 10 Employees) 170 645 SACCOS / Cooperative Societies /…

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Understanding Capital Gains Tax

ADMIN

In line with the amended Kenya Finance Act of 2022, the capital gains tax stands at 15% up from 5% effective January 2023. Capital gains tax is imposed on the profit made from the sale of a capital asset such as a stock, bond or real estate property. The calculation is made from the sale price with few deductions made. Below are the subtopics to be discussed What is capital gains tax? Which is the current prevailing capital gains tax rate? How much is capital gains tax? Are there any…

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Land Amalgamation Process in Kenya

ADMIN

Land amalgamation is the process of combining small pieces of land to one large piece and under one title deed. This process is also known as land consolidation or land readjustment. In Kenya, land amalgamation is done through the regulations of the Land Consolidation Act. The purpose of amalgamation of land is to increase land use efficiency, productivity and management. Documents required The process of amalgamation of land requires various documents. The submission is required for certified and original documents. Below is a list of the documents for better guidance Cadastral Map…

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Windows 11 summery

ADMIN

Windows 11 is the latest version of Microsoft’s operating system for personal computers, laptops, and tablets. It was released in October 2021 and features a new design, improved performance, and new features. Here are some of the key details and links related to Windows 11: System requirements: To run Windows 11 on your PC, it needs to meet certain system requirements such as a compatible processor, minimum RAM, and graphics card. You can check if your PC is compatible with Windows 11 by using Microsoft’s PC Health Check app. New…

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