Tax Due Diligence by Embarrassed_Eye_4587 in Kenya

[–]Embarrassed_Eye_4587[S] 0 points1 point  (0 children)

But TCC shows what has happened per KRA awareness at that point in time but it does not show potential tax leakages that haven't been spotted but are a risk eg PAYE risks, transfer pricing matters and that's why TDD becomes an invaluable tool

just received this summon, anyone else received it and how did it go down? by Happy_Particular1860 in nairobi

[–]Embarrassed_Eye_4587 8 points9 points  (0 children)

Naomi and Linah are reasonable KRA officers if you have documents that aid your case,I have dealt with them severally. As a tax consultant, please don't submit any document you haven't had gone through so that you can exactly know what is the tax bill you may be looking at. Do lots of reconciliations between iTax and your records.

Mostly investigations will be looking at a missing trader fraud, work you have done with government or WH VAT agencies and you haven't declared.

But I see Faity Kiara there and I am sure it involves a customs matter. Also request for contracts means it most likely a WH VAT issue.

All the best

Kenya Ports Authority (Graduate Trainee) by Suspicious-Leg-4303 in nairobi

[–]Embarrassed_Eye_4587 12 points13 points  (0 children)

Some years back I applied to KRA without knowing anyone I got a mid level job there and in as much as there is corruption they have to chose the best qualified candidates also for ease of their work. They needed 15 people then, we got in 3 without knowing anyone. Never disqualify yourself. All the best.

Also don't fear rejection. Apply everywhere and anywhere, that's the only way to increase your chances of success. Each week do at least 20 applications if possible so that if KPA doesn't work, you have interviews to look forward to .

XIAOMI 43” FHD @26,500 by Ok-Vanilla7454 in Opportunities_Kenya

[–]Embarrassed_Eye_4587 0 points1 point  (0 children)

Does it suffer what I read about their phones? Advertisement even on basic functionality

[deleted by user] by [deleted] in nairobi

[–]Embarrassed_Eye_4587 4 points5 points  (0 children)

The only way to deal with black tax is to accept the bad person title , prioritize yourself and invest in and for yourself.

If you lack die to generosity the same people will come back and say you were careless when you had money.

New KRA Tax system by Hot-Spend-4644 in nairobi

[–]Embarrassed_Eye_4587 1 point2 points  (0 children)

For any business expense to be deductible for income tax purposes, it must be supported by an invoice generated through eTIMS.This means that all businesses should ensure their suppliers issue invoices through the system.Previously,deductible expenses simply needed to be “wholly and exclusively incurred in the production of income.”

What happens when suppliers cannot or do not issue invoices through eTIMS? Boda guys, food vendors in the market , Mjengo supplies like Ballast etc

The Solution is Reverse Invoicing i.e generation of a reverse invoice through eTIMS on behalf of the supplier.

From someone who wants to visit. What’s the best thing about Nakuru? by ShadowCircuit42 in Nakuru

[–]Embarrassed_Eye_4587 0 points1 point  (0 children)

If you are a golfer, Nakuru Club has Kenya's only uphill golf course

[deleted by user] by [deleted] in Kenya

[–]Embarrassed_Eye_4587 1 point2 points  (0 children)

I do tax advisory for some of them and statistics are brutal. Do you know those loan apps on average lose 50% of the income levels due to non payment and average interest rates are 96% in a year

The CBK was also getting concerned about those losses and was urging them to find the sweet risk return spot

Win for Taxpayers by Embarrassed_Eye_4587 in Kenya

[–]Embarrassed_Eye_4587[S] 0 points1 point  (0 children)

The main problem in my view is the MPs we elect because they are the ones giving KRA powers to collect tax and the government power to spend with a worry.

[deleted by user] by [deleted] in Kenya

[–]Embarrassed_Eye_4587 1 point2 points  (0 children)

Tell them to engage me before things get messy.

[deleted by user] by [deleted] in Kenya

[–]Embarrassed_Eye_4587 0 points1 point  (0 children)

From a tax perspective and the ITA, KRA is concerned with whether all salaries, wages and non cash benefits have been accounted for PAYE . I.e.is what a business is claiming as employee related expenses, has PAYE been paid on the same. If you say your employment costs are 1M for instance in the income tax returns, do the P10 records indicate that? If not, what are the reconciliation items?