TAX CHANGES WITH EFFECT 1ST JANUARY 2021
Tax matters that will affect all taxpayers in the new year 2021. These include the tax changes introduced by the Finance Act of 2020 and the Tax Laws (Amendment) No. 2 Act of 2020, intended to take effect from 1st January 2021.
STRATEGIC RISK MANAGEMENT for SACCOs
Strategic risk is the current and prospective impact on earnings and/or capital and arises from Sacco’s inability to implement appropriate business plans, strategies, decision making, resource allocation, and its inability to adapt to changes in its business environment.
Taxation of SACCOs and Cooperatives in Kenya.
In the recent past, tax authorities have been very deliberate in passing legislation to enforce compliance among SACCOs, at the same time they have increased compliance audits and reviews to ensure that more SACCOs are brought into the tax bracket and are contributing to the country’s tax revenue. It is against this backdrop that we at Ronalds LLP have developed this handbook in order to create awareness, help build on capacities and capabilities for SACCOs. Get the Book for free by attending A 3 day Seminar on Everything about the taxation of SACCOs at Enashipai Resort and spa.
She believed she could so she did
It started in 2002 in Tanzania in order to assist neglected orphans to attend school. Later the initiative expanded to Kenya in 2006 to support orphans around Lake Victoria. Since then they have supported over 700 orphans.
Find out the story of Consolata Achieng who dedicated her life to supporting orphans through The Mango Tree Orphan Support Trust.
Kenyan Creatives to Incur Tax on YouTube Content
Creatives to incur tax on Youtube. The United States will start Withholding Tax on Income Earned by Non-residents from the US Viewers through YouTube Premiums, Ad Views, and Super Stickers as at June 2021. The Covid-19 pandemic took a toll on the economy globally. In underdeveloped countries, donations and loans have played a major role […]
DEMYSTIFYING VOLUNTARY TAX DISCLOSURE PROGRAMME.
Voluntary Tax Disclosure Program Taxpayers volunteering for this program will be waived/granted relief of penalties and interest from non-compliance on the tax disclosed and granted immunity from prosecution and remission shall be granted as follows; Full remission on penalties and interests 100 for applications made and tax liability paid in the first year of the […]
Our Uganda office gets a new Country Manager
Congratulations Ms. Jacqueline Kimotho for your appointment as the Country Manager Uganda, Jacqueline is a CPA (K) holder and holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University Prior to her appointment, Jacqueline has been working as BPR and Innovation Manager at Ronalds LLP where she was tasked with evaluation of client operational processes […]
Conservatory Orders Against Implementation the Minimum Tax
Justice Odunga issues conservatory orders restraining Kenya Revenue Authority from the implementation, administration, application, or enforcement of Section 12D of the Income Tax Act. This comes just a day before the tax deadline. The Kitengela Bar Owners Association petitioned before the court that the enforcement of the Minimum Tax provisions would be unconstitutional and unlawful, […]
1st quarter 2021 Newsletter
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JUNE 30TH 2021 DEADLINE FOR NON-DEPOSIT TAKING SACCO’S COMPLIANCE
The Sacco Societies Regulatory Authority (SASRA) has given SACCO’s up to June 30 to comply with the SACCO societies (non-deposit taking business) regulations-2020, which took effect on January 1, 2020.