KRA ITAX ,TAX DEADLINES TO KEEP AND AVOID PENALTIES
By Stephen kyalo kisingu - 2020-05-12 00:13:28 - [General]
Pay As You Earn (PAYE)
PAYE is deducted monthly at the prevailing individual income tax rates, on or before 9th of the following month
Installment Tax
Installment Tax is paid in advance at four equal installments. It is
paid before the year of income is over and before the accounts of the
business are prepared to establish the actual tax payable.
What is the rate of taxation for Installment Tax?
Schedule of Installment Tax payments:
- 25% by the 20th day of the 4th month.
- 25% by the 20th day of 6th month.
- 25% by the 20th day of 9th month.
- 25% by the 20th day of 12th month.
Installment Tax for companies in the Agricultural Sector
- 75% which is the first 3 installments, combined and paid by the 20th day of 9th month.
- 25% is paid by the 20th day of 12th month.
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