Tax compliance involves being aware of and observing the tax laws and requirements set by the government officials and other tax authorities of a country/state.  For example, not filing tax returns on time is considered non-compliance and this may lead to fines and penalties.

At MNC, 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 tax accountants who have specialized in taxation help our clients to;

• Navigate changing tax laws.
• Appropriately report and calculate the amount owed by the tax authorities.
• Ensure that their taxes are paid on time.
• Maintain their tax compliance at the time of the changing regulation and tax reform.
• Appropriately interpret and understand the regulations and tax laws

Our tax accounting professional assists 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 agents 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 the dormancy of tax obligations and subsequent reactivation 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 installments payable over a period of time to be agreed upon at predetermined dates
• 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 liability is paid 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 accordingly and 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, and Rental Income Withholding where applicable.