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Business

Numbers and Finance 1

Non Compliance Costs Trader 9.3B in Tax and Penalties

Banking and supplier records helped the Kenya Revenue Authority (KRA) to net Sh9.3 billion from a trader who had failed to file correct returns over a six-year period. Fillings before a five-member Tax Appeals Tribunal revealed how a mismatch of stocks inventories, tax declarations and bank transactions lifted the lid on the proprietors of Embu-based Paleah Stores Ltd who had dodged remitting tax dues for more than half a decade.
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Understanding Digital Service Tax and its Implementation in Kenya

Following the recent and rapid expansion of digitisation and digitised aspects of the economic and societal space, numerous global debates have been sparked in many legal and regulatory tax statutes. The tax implications of digitisation range from direct and indirect taxation, tax policies and tax administration. With the emergence of new digital streams of income, the allocation of profit and the nexus rules to distribute taxing rights on income generated from cross-border activities has given rise to ambiguities as to the manner these tax issues may be resolved.
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