We liaise with our clients to ensure that they are aware of and are observing all their tax obligations in a timely and efficient manner. Our tax compliance services not only simplify the complexities and uncertainties surrounding taxation as a whole but also, are aimed at the objective of mitigating tax exposure.
Our team of professionals consists of Certified Public Accountants and Certified Investment and Financial Analysts who are tax experts and tax compliance specialists who combine their skills& expertise to ensure that all tax laws and regulations are met against the ever-changing global tax standards. Furthermore, our tax professionals have the experience of engaging with Tax Authorities which guarantees our clients a competitive edge while creating additional significant value in their business. We also strive to ensure that our clients understand, interpret and implement the varied tax laws accordingly.
Kenya Revenue Authority (KRA) has adapted to the changing tax environment and developed stringent measures to seal the loopholes in their systems that allow for tax evasion. Such measures include the VAT Auto Assessment (VAA) which is a tax compliance solution introduced by KRA to detect inconsistencies between purchases and sales declared in VAT returns. Consequently, tax payers must strive to ensure compliance with the tax laws to avoid implications such as auto assessments, penalties and interest.
The tax experts at our firm, will assist you in the following areas:
- Tax record keeping,
- Preparation and submission of varied tax returns to the relevant Tax Authorities,
- Payment of taxes and securing refunds where applicable,
- Registration of our firm as tax gents for our clients. A tax agent is authorized to handle all matters or issues relating to taxes of the ‘principal’. This allows our clients to focus on their core business while they are assured that their taxes are being handled professionally by experts,
- Facilitate acquisition of Tax Compliance Certificates (TCC) from Tax Authorities,
- Registration and deregistration of varied tax obligations with relevant Tax Authorities,
- Application for dormancy of tax obligations and subsequent re-activation of the tax obligations,
- Negotiation of payment plans for pending tax liabilities with relevant Tax Authorities. Payments plans entail spreading the total tax liability owed by a client into several instalments payable over a period of time to be agreed upon at predetermined dates and,
- Application for waiver on penalties and interest based on reasonable grounds.
Some of our specific Tax Compliance Services that we offer include:
- Value Added Tax Compliance – We ensure that all the monthly VAT returns are prepared and submitted on time and any arising tax liabilitypaid on time.
- Corporate Income Tax Compliance– We ensure the annual Income Tax (IT) returns for our clients are submitted to Kenya Revenue Authority within the stipulated timeline of 6 months from the end of the financial year.
- Rental Income Compliance- We strive to ensure that all rental income collected is declared accordinglyand payment made to Kenya Revenue Authority for any arising tax liability.
- Pay As You Earn Compliance – We ensure that all monthly employee deductions are deducted accordingly and on time while remission to Kenya Revenue Authority is also made on time.
- Withholding Taxes Compliance –We ensure our clients prepare and submit VAT Withholding, Income Tax Withholding, Rental Income Withholding where applicable.