Blog

How does technology affect tax?

How does technology affect tax?

Tax technology streamlines processes and makes them more efficient by enabling the flow of data. This results in far fewer hours and resources spent on tax processes. Tax technology enables more efficient tax processes by …

What is the role of Kenya Revenue Authority?

Kenya Revenue Authority (KRA), is an agency of the Government of Kenya that is responsible for the assessment, collection and accounting for all revenues that are due to government, in accordance with the laws of Kenya.

When did Parliament established KRA?

1st July 1995
The Kenya Revenue Authority was established by an Act of Parliament, Chapter 469 of the laws of Kenya, which became effective on 1st July 1995. KRA is charged with collecting revenue on behalf of the government of Kenya.

READ ALSO:   What does the word Christian literally mean?

What is Kenya Revenue Authority PIN?

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.)

What is tax technology and transformation?

Tax is undergoing a fundamental and long term period of transformation as Tax Authorities globally seek to digitise existing tax regimes as well as introduce new, large scale, complex and data intensive tax regimes to fight tax evasion and increase tax revenues.

What tax software does KPMG use?

Using Thomson Reuters’ ONESOURCE® third party software, KPMG professionals can help you discover the technological and tax issues that may be affecting your tax department, and how to understand how these issues can impact the reporting, compliance requirements, and internal controls across the tax lifecycle.

What are the functions of Revenue Authority?

ZRA’s responsibilities include assessment and collection of taxes and duties, enforcement of relevant statutory provisions, facilitation of international trade, and advisory on aspects of tax policy.

READ ALSO:   What is the electric field at the center of a square?

What is KRA vision statement?

The Vision is to facilitate Kenya’s transformation through innovative, professional and customer-focused tax administration while the Mission is to build trust through facilitation to foster compliance with Tax and Customs Legislations.

Who is in charge of revenue?

A revenue service, revenue agency or taxation authority is a government agency responsible for the intake of government revenue, including taxes and sometimes non-tax revenue. Depending on the jurisdiction, revenue services may be charged with tax collection, investigation of tax evasion, or carrying out audits.

Who pays taxes in Kenya?

employer
The Income Tax Act is the most important tax used in Kenya. It is up to the employer to make sure that the taxes are deducted at source, that employees pay taxes and that they have a personal identification number (PIN) with the KRA. There is a fine of $22 for every payment made to an employee who does not have a PIN.

READ ALSO:   Does freezing stop time?

How long does it take to get KRA company PIN?

How to register for a KRA PIN. PIN registration is an online process done on iTax. Residents receive their PIN Certificate instantly after completing the online registration form.

How do I get P9 from Itax?

How to file P9 itax returns

  1. Get your P9 form from your employer or download it online.
  2. Log in to itax.kra.go.ke.
  3. Go to Returns Menu and select ‘FILE RETURNS’ ITR For Employment Income Only.
  4. Select the tax obligation (Income Tax-Resident Individual) and click ‘Next’