Brimishi Enterprises

Procedures on how to register a Kenya Revenue Authority Personal Identification Number (KRA PIN) for refugees in Kenya?

A KRA PIN is issued by KRA to Kenyans or Non-Kenyan residents essentially for opening a bank account, getting a job and doing business in Kenya.

Below are the procedures on how to register a KRA pin for refugees in Kenya:
a) Make an application online on ITax under New Pin Registration as a Non Kenyan Non Resident.
b) Fill in all the required areas and attach a copy of your refuge ID.
c) After successfully filling all the required information correctly and submitting the data, an acknowledgement receipt will be generated.
d) You will then need to present to Times Tower, the acknowledgment receipt alongside other relevant documents, for approval of your KRA pin registration. Please note that all refugee KRA PIN applications can only be completed at the KRA offices located on Times Tower in Nairobi along Haile Selassie Avenue.

Below are the documents required to complete the KRA pin registration process for refugees at Times Tower:
a) KRA PIN application acknowledgement receipt
b) Original and Copy of a valid Refugee ID or Alien Card.
c) Introduction letter from Refugee Affairs secretariat.
d) Letter from employer if you are employed.
e) Business Registration Certificate if you are in business.
f) Work permit from the Immigration department (Class M permit). A class M permit is issued to a person who has been granted refugee status in Kenya in accordance with the refugee law of Kenya and any spouse of such a refugee who intends to take up employment or engage in a specific occupation, trade, business or profession.

Once you have presented these documents, KRA official will verify and issue you with a KRA PIN certificate.

For more info, kindly call/whatsapp us on 0753978904

For tax filing services contact us on 0753978904

How to register a Limited Company in Kenya?

I know you might have struggled knowing how to register a limited company in Kenya. But worry no more because I will be taking you through the procedures.

Below are the procedures to register a limited company in Kenya:

1. Name Search- Come up with 3 proposed company names and list them in order of preference. After a search, if one of the 3 proposed names is selected, it will be reserved by the registrar of companies.

2. Ex*****on of forms CR1, CR2, CR8 and statement of Nominal capital – Once the name is approved and reserved. The company registration forms are executed and signed by the subscribers and directors of the company.

3. Application for registration – After filling in the registration forms, the application forms are then submitted to the Registrar of companies for registration.

4. Registration and issuance of certificate of Incorporation.

5. KRA PIN application

The above are the simple procedures on how to register a limited company in Kenya. For more information or assistance kindly contact us.

KRA rolled out the Electronic Tax Invoice. All VAT registered persons are required to comply with the
requirements of the VAT (Electronic Tax Invoice) Regulations on implementation of the electronic tax invoice.

The key features of a valid Electronic Tax Invoice include:
a) Buyer PIN - refers to the PIN of the purchaser. The capture of the buyer’s PIN is optional when generating an invoice and is only applicable where the purchaser intends to claim input tax for the VAT paid.
b) Control Unit serial number - a unique number issued by KRA to identify each tax register.
c) Control Unit invoice number - a unique number generated by the tax register upon issuance of each tax invoice.
d) Quick Response (QR) Code - to confirm the validity of the tax invoice

Note: Compliant tax registers will have the capability of generation of credit and debit notes referencing the original tax invoice

Brimishi Enterprises wishes all Kenyans a Happy Labour Day 2021!

Kindly visit our website to get more info about the services we offer
https://www.brimishienterprises.yellowpageskenya.com/

Brimishi Enterprise Brimishi Enterprises provide outsourced accounting services. We offer a myriad of services including, bookkeeping, payroll, audit, financial consulting, tax preparation and consultancy, financial analysis etc.

Contact Brimishi Enterprises to help you in filing your monthly returns before the due date today

The following are the duties and taxes that have been imposed by KRA, payable in the importation of second-hand motor vehicles:

If you succeed every mistake becomes legendary, if you fail that is just a garbage”-Jack Ma

Social media influencers will be liable to pay digital service tax since their income is derived from or accrued from the provision of services through a digital marketplace or by providing digital advertising services in Kenya.

IMPORTANT POINT YOU SHOULD KNOW ABOUT MINIMUM TAX

The minimum tax will be an alternative tax to instalment tax and will only be payable where it exceeds the instalment tax. In cases where the instalment tax is higher than the minimum tax, the former will be due.

A person shall be subject to digital service tax if that person provides or facilitates the provision of a digital service to a user who is located in Kenya. A user of a digital service shall be deemed to be located in Kenya if:
i. The user receives the digital service from a terminal located in Kenya, where terminal includes a computer, tablet and mobile phone;
ii. The payment for the digital service is made using a debit or credit facility provided by a financial institution or company located in Kenya;
iii. The digital service is acquired through an internet protocol address registered in Kenya or an international mobile phone country code assigned to Kenya; or
iv. The user has a business, residential or billing address in Kenya.

A non-resident person without a permanent establishment in Kenya who provides a digital service to a user in Kenya may register under the simplified tax registration framework.

A resident person, or a non-resident person with a permanent establishment in Kenya, who provides a digital service in Kenya shall be required to apply to the Commissioner for digital service tax registration in the prescribed form.

A person liable to pay digital service tax shall submit a return in the prescribed form and remit the tax due by the twentieth day (20th) of the month following the end of the month that the digital service was offered.

Digital Services Tax

Digital services for which digital service tax shall apply include—
• Downloadable digital content including downloadable mobile applications, e-books and films;
• Over-the-top services including streaming television shows, films, music, podcasts and any form of digital content;
• Sale of, licensing of, or any other form of monetizing data collected about Kenyan users which has been generated from the users’ activities on a digital marketplace;
• Provision of a digital marketplace;
• Subscription-based media including news, magazines and journals;
• Electronic data management including website hosting, online data warehousing, file-sharing and cloud storage services;
• Electronic booking or electronic ticketing services including the online sale of tickets;
• Provision of search engine and automated held desk services including supply of customized search engine services;
• Online distance training through pre-recorded media or e-learning including online courses and training; and
• Any other service provided through a digital marketplace.

Incomes Exempted from Minimum Tax:
• Income exempted by the act
• Employment income
• Income that is subject to Residential Rental Income Tax
• Income that is subject to Turnover Tax
• Income that is subject to Capital GAINS Tax
• Income of extractives sector.

Minimum Tax is a base income Tax payable by all persons regardless of whether or not they make profit.
The rate of minimum tax is 1% of the gross turnover of the company.
The effective date of minimum tax is 01/01/2021.
The tax shall be paid in installments and shall be due on 20th day of each period ending 4th, 6th, 9th and 12th month of the year of income.

call us today for quality services at affordable prices.

Failure to pay the NITA training levy at the end of each financial year attracts a penalty of 5% of the amount due.

KRA and NITA have developed a Unified Payroll Return (UPR) for joint declaration and payment of PAYE and Industrial Training Levy Contributions.
The PAYE/NITA Unified Payroll Return has been rolled to all employers starting with the payroll month of December, which is due by 9th January, 2021.
Industrial Training Levy deductions will be paid annually by 9th of the following month, following the end of the employers’ accounting period at the rate of Ksh.600 per employee per annum, which translates to Ksh.50 per employee per month.

For residents and companies with a permanent establishment in Kenya, the DST will be offset against the income taxes due in the year of income. For non-residents and companies without a permanent establishment in Kenya, DST will be a final tax.

The Finance Act 2020 introduced a new tax known as Digital Service Tax (DST) effective 1st January 2021. DST is charged at 1.5% of the gross transaction value and shall be payable by a person whose income from service is derived from or accrues in Kenya through a digital market place. Tax shall be due at the time of transfer of payment for the service to the service provider.

Brimishi Enterprises wishes you a happy and prosperous 2021.

https://www.nytimes.com/2020/11/10/business/biontech-covid-vaccine.html

Digital Service Tax (DST) as a tax that is payable on income derived or accrued in Kenya from services offered through a digital market place, will be effective from January 2021.

TAX CHANGES EFFECTED IN KENYA AS AT 1ST APRIL, 2020;

The President of Kenya issued the following number of relief measures to cushion the tax payers, businesses and investors from the COVID-19 impact.

Corporation Tax
• Reduction of resident corporation income tax rate from 30% to 25%.

Turnover Tax (TOT)
• Reduction of Turnover Tax (TOT) rate from 3% to 1%.

Value Added Tax (VAT)
• Reduction of the VAT rate from 16% to 14%.

Pay As You Earn (PAYE)
• 100% tax relief for persons earning a gross monthly income of up to Kshs 24,000.
• Reduction of top Pay-As-You- Earn (PAYE) tax rate from 30% to 25%.

Quick tips about penalties for late filing of PAYE
• PAYE Return should be filed and tax payable on or before the 9th of the following month.
• Penalty on late filing is whichever is higher between, 25% of the tax due or Kshs. 10,000.
• Penalty on late payment is 5% of the tax due and a late payment of 1% per month on the unpaid tax until the tax is paid in full.

Quick Facts about Turnover Tax (TOT)
• Is a tax charged on gross turnover of more than Kshs. 1,000,000 and not exceeding Kshs 50,000,000 in any given year.
• Is charged at the rate of 1% on the gross sales.
• TOT is filed and paid on a monthly basis on or before 20th of the following month.
• It is a final tax, meaning you don’t have to pay any other tax
• A legible taxpayer can apply to change from income tax to Turnover tax, by writing a letter to the commissioner for the change and awaiting approval.

All you need to know about Turnover Tax (TOT) In the government’s bid to cushion taxpayers from the adverse effects of the Covid-19 virus, it re-introduced new tax measures. The measures included the reduction of the Turnover Tax (TOT) rate. Turnover Tax (TOT) is a tax charged on gross sales of a business as per Sec. 12(c) of the Income Tax A...