The Budget 2013 Analysis
Budget analysis year 2013 - with Martin Kisuu - Director Taxwise Consulting Limited.
New NSSF Act Kenya 2013
The National Social Security Fund ("NSSF") bill was passed by parliament on 4th December 2013, received presidential assent on December the 24th 2013, gazzetted on 27th December 2013 making it the NSSF Act No. 45 of 2013.
The new NSSF Act repeals the previous NSSF Act Chapter 258. The planned effective date was January 10th 2014. However the Labour Cabinet Secretary suspended the effective date to May 31st 2014 to enable employers make the necessary adjustments.
Here we review the new Act and what it means to you as an employer or an employee.
Taxwise Consulting Limited is looking for qualified tax professionals to provide a full range of tax services to our clients in East Africa.
Applicants should have 3 to 5 years experience.
Mandatory ITAX Tax Returns Filing for Large & Medium Taxpayers
Please note that effective January, tax payers in Large Taxpayers Office ("LTO") and Medium Taxpayers Office ("MTO") will have to file all returns on the ITAX System. No Domestic Tax Payments from these taxpayers will be received at the Kenya Revenue Authority's ("KRA") cash offices.
This is as per KRA Public Notice dated 17/12/2013. http://www.kra.go.ke/index.php/notices/kra-news/861-notice-17122013
Thus Pay As You Earn ("PAYE"), Withholding Tax and Value Added Tax ("VAT") payments and filing from January 2014, will be done through the ITAX system.
In case require any assistance, please do contact us at any time. Our tax advisors will take you through the whole process.
Your Taxwise Consulting Contacts are;
(+254) 737 625 680
Amendment Bill, 2013
The Kenya Gazette notice of Monday 11/18/2013 lists a Value Added Tax ("VAT") Amendment Bill, 2013 as published. This gives taxpayers another opportunity to air their concerns about the recently enacted VAT Act, No. 35 of 2013. To do this, individual, companies and groups need to book an appointment with the Committee on Finance Planning & Trade to present their concerns.
Kindly contact us to assist you present your views or any proposed amendments to the committee and lobby for improvement of the VAT Legislation in the Country.
Thanks and best regards,