Wise men say that old habits die hard, and you cannot teach an old dog new tricks. This year is about time to turn the tables and embrace a new culture of avoiding last minute rush, especially when it comes to KRA tax return matters.
Many Kenyan taxpayers wait till the last month and many more wait till the last week of June if not the last day of the same month which happens to be the deadline date for filing tax returns. This is despite having all the first half of the year to file the previous year’s returns. You being the change you so desire, we encourage you to go against the grain and file KRA tax returns as early as today.
If we all embrace this challenge, the possibilities of the KRA tax Portal alias iTax timing out and not being found (error 404) would be greatly reduced. By anyone not filing their tax returns by deadline date, they risk being slapped with a fine of KES. 20,000. Every citizen who has an active KRA PIN has to file returns whether they have a source of income or not.
Individuals with no source of income are expected to file nil returns while their counterparts who are employed have to file to confirm that PAYE has been submitted to KRA by their respective employers. Unemployed residents only need their KRA PIN and iTax account password while the employed need the P9 form in addition to the PIN and iTax account password which is provided by the employer.
Among the top Financial Services Companies is Elite Accounting Services which would be happy to serve and advise you and your business on tax matters at any time online or physically at our offices on 5th Avenue Ngong Office Suites, 8th floor suite number 3. Feel invited to visit us today to beat the deadline well before the deadline.
