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Demystifying Kenyan taxes
Consulting_EAT
#1 Posted : Thursday, January 08, 2015 6:46:42 PM
Rank: New-farer

Joined: 7/1/2014
Posts: 12
@Admin allow me to start this thread for general queries on taxes.

Aim is to provide quick references for tax questions some of which could have been asked and answered in other threads.

Experts in the field of taxation are most welcome to contribute.
jwatesh
#2 Posted : Thursday, January 08, 2015 7:02:44 PM
Rank: Member

Joined: 8/19/2014
Posts: 125
Do banks submit the money figures coming into you account to KRA?
sizzla
#3 Posted : Thursday, January 08, 2015 8:18:24 PM
Rank: Member

Joined: 6/10/2006
Posts: 201
Location: Nairobi
Banks only submit client information or raid your bank account when there is a tax query or suspicion of tax evasion. Otherwise that information is too voluminous...
Angelica _ann
#4 Posted : Thursday, January 08, 2015 11:23:11 PM
Rank: Elder

Joined: 12/7/2012
Posts: 11,935
Paye @30% every month computed annually. Refunds ngumu Sana!!! Not like the automatic refunds of the 90's
In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
mic_mic
#5 Posted : Thursday, January 08, 2015 11:50:19 PM
Rank: Member

Joined: 12/30/2012
Posts: 545
Location: NBI
Angelica _ann wrote:
Paye @30% every month computed annually. Refunds ngumu Sana!!! Not like the automatic refunds of the 90's


Not quite 30%. We (kenya) do not use a flat tax rate. It is a schedule increasing with income. 30% is for income above 466,000(*) annually
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sparkly
#6 Posted : Thursday, April 23, 2015 4:29:46 PM
Rank: Elder

Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
The National Hospital Insurance Fund (NHIF) Board gazetted new NHIF contribution rates on 6th February 2015.

The new rates take effect on 1 April 2015 and range from KShs 150 – KShs 1700 depending on the contributor’s monthly gross income.
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Minor Mullah
#7 Posted : Thursday, April 23, 2015 5:58:39 PM
Rank: New-farer

Joined: 1/21/2015
Posts: 10
Location: Nairobi
6th February, 2015

LEGAL NOTICE No. 14

THE NATIONAL HOSPITAL INSURANCE FUND ACT
(No. 9 of 1998)

IN EXERCISE of the powers conferred by sections 15 and 26 of the National Hospital Insurance Fund Act, the Board, in consultation with the Cabinet Secretary for Health makes the following Regulations:—

THE NATIONAL HOSPITAL INSURANCE FUND (STANDARD AND SPECIAL CONTRIBUTIONS) REGULATIONS, 2015

1. These Regulations may be cited as the National Hospital Insurance Fund (Standard and Special Contributions) Regulations, 2015.

2. Regulation 3 of the National Hospital Insurance Fund Act (Standard Contributions) Regulations, 2003, Legal Notice No. 107 is amended by deleting paragraph (3) and substituting therefore the following:

3. The rate of contribution shall be graduated as follows-

Gross Income (KSh.)
Proposed Premiums (KSh.)
5,999
150
6,000-7,999
300
8,000-11,999
400
12,000-14,999
500
15,000-19,999
600
20,000-24,999
750
25,000-29,999
850
30,000-34,999
900
35,000-39,999
950
40,000-44,999
1,000
45,000-49,999
1,100
50,000-59,999
1,200
60,000-69,000
1,300
70,000-79,999
1,400
80,000-89,000
1,500
90,000-99,000
1,600
100,000—and over
1,700
Self-employed (Special)
500
This Legal Notice shall take effect from the 1st April, 2015.

SIMEON OLE KIRGOTTY,
Chief Executive Officer,
National Hospital Insurance Fund.

MOHAMUD MOHAMED ALI,
Rankaz13
#8 Posted : Thursday, April 23, 2015 7:54:27 PM
Rank: Elder

Joined: 5/21/2013
Posts: 2,841
Location: Here
What are the tax implications of operating my hardware shop as a company vs. as a sole-proprietorship?
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bartum
#9 Posted : Thursday, April 23, 2015 9:00:39 PM
Rank: Veteran

Joined: 8/11/2010
Posts: 1,011
Location: nairobi
Rankaz13 wrote:
What are the tax implications of operating my hardware shop as a company vs. as a sole-proprietorship?

me too iam waiting contributions to this
bartum
#10 Posted : Thursday, April 23, 2015 9:04:19 PM
Rank: Veteran

Joined: 8/11/2010
Posts: 1,011
Location: nairobi
Rankaz13 wrote:
What are the tax implications of operating my hardware shop as a company vs. as a sole-proprietorship?

me too iam waiting contributions to this, which one would you prefer
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