Businesses are hopeful as they wait the Kenya Revenue Authority (KRA) to refund money it collected as minimum tax. The tax body argued that the High Court ruling that Section 12D of the Income Tax unconstitutional means that the taxman has to start refunding the collected revenues.
KRA has however moved to the Court of Appeal to challenge the High Court’s judgement made on September 20, 2021; that stopped it from collecting the minimum tax at the rate of 1% of the gross turnover.
This minimum turnover is based on gross turnover and not gains or profits, and that all businesses even those making loses are required to pay.
High Court Judge Justice George Odunga ruled that the government’s plan to impose a minimum tax on businesses even when the business reports loss is illegal.
The minimum tax took effect in January 2021 after changes were made on the Income Tax Act in 2020. KRA’s move to the Court of Appeal shows its attempt to enforce the collection of Ksh 21 billion from businesses in the year to June, 2022 an effort to plug its revenue shortfalls.
Treasury CS Ukur Yatani told Parliament that the High Court’s judgement left KRA with sh 22 billion budget deficit.
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Great African icon who was frustrated by western powers just to depict him as a failed statesman due to his unrelenting support to africans
Your Comment .rest in peace my best African president.i will dearly miss your words of wisdom more especially on Facebook.
Your Comment ooh mzee go rest in peace.
If Mugabe is dead everybody must die!Rest in peace
Your Commentrip bib Robert mugabe
Your Comment..y raila tumechoka na siasa ya baba na mama ruto state house kwanza mraithe jua huyo Ruto ndie amefanya Uhuru akapata prezo wacha wivu
Your Comment
let the dynasty grouped themselves,so that we can slaughter them at once.
When Murathe says "we" I wonder who it is that he is referring to. Anyway, I believe the road to state house for Dr.WSR might be bumpy but surely the Murathe's of this country can't stop Dr.WSR from getting there! I MIGHT BE WRONG BUT I AM RIGHT.
wow!very captivating news to read, thanks
Your Comment- well done for being smart in bed mheshimiwa,but also be smart in development for your constituents,so that you can excel in all aspects.