KRA gives deadline to taxpayers.

KRA gives deadline to taxpayers.

Kenya revenue authority has instructed taxpayers to regularize their pins in the I Tax system before 31st august 2017 or face deactivation of their pins. KRA urges users to migrate to the iTax system and start filing returns immediately.

As of July 2017, Kenya Revenue Authority noted that there are tax payers who have not migrated their pins into I tax, some not filing while those in active businesses filing nil or no returns at all.

In this regard, all PINs falling under these categories will be rendered inactive in the iTax platform, come 31st August 2017.

Taxpayers who have not filed any tax return for the last three months, will also be considered as not trading and their Pins rendered inactive.

However, the public can use the PIN Checker link available in the iTax Portal, to verify details of their suppliers and confirm if their Pins are active.

The Authority increased its revenue collection by 13.8 percent in the 2016/17 financial year, compared to the previous year, where it collected Ksh 1.210 trillion but missed its target by Ksh 50 billion.

The increase was attributable to growth in the consumption taxes (VAT) that had a 21.5 percent growth attributed to enhanced compliance measures while corporation tax also went up by 18.2 percent while Domestic Excise tax went up by 13.3 percent.

 

Tax increment

Value added tax       21.5% increase

Corporation tax       18.2 % increase

Domestic excise tax   13.3 % increase.

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