TAX CREDIT
 

Taxation



VAT
Relieving you of the burden
VAT can be the bane of everyone affected by it.
The complex regime of regulations imposes a tremendous administrative burden on businesses.
With the rate being so high, mistakes in calculating VAT can be costly - and the rigid system
of penalties and interest charges for mistakes and the late submission of returns adds to that burden.
Our cost-effective VAT compliance and planning services can relieve you of this burden.

Our team of VAT professionals will help to keep your VAT affairs in order, make sure you are collecting the
 right amounts for each transaction, and ensure that you make payments and file returns correctly and on time.
In addition to providing a comprehensive bookkeeping and VAT accounting service, we can also advise on and help with:

  • The pros and cons of voluntary registration
  • The timing of compulsory registration
  • Extracting maximum benefit from the rules on de-registration
  • Partial exemption
  • Timing and delaying VAT payments
  • Flat rate VAT schemes
  • VAT on imports and exports
  • VAT control visits by Customs and Excise

 

We believe that we will also be of service to you, if you give us an opportunity and therefore look forward to an
opportunity to discuss or clarify any issues you may consider relevant to your organization.

Tax and other Levies

No one wants to pay more tax than they have to, yet thousands of people do just that! Tax saving requires both knowledge and creativity. Our team has specialized knowledge in income, corporation, PAYE, VAT and withholding taxes.
Our aim is to advise you how to arrange your affairs in such a way as to minimize your tax liabilities.

We can help with:

  • Tax Returns preparation of Personal and Partnership Returns
  • Corporation Tax - advice and completion of Returns
  • VAT - Value Added Tax
  • Planning Advice - on all aspects of taxation including  transfer pricing and withholding taxes
  • PAYE, P11 and year end returns

Stress free tax processing

We represent you...

All communication with the Kenya Revenue Authority can be handled, taking away the chore of dealing with all the correspondence and forms. We will deal directly with them on your behalf, including Kenya Revenue Authority investigations. But we never forget who’s boss - we work for you, not the Kenya Revenue Authority!

For a fixed fee we can:

  • Complete your self assessment tax return
  • Calculate your income tax liability or tax repayment
  • Check that you receive all tax relieves you are entitled to.

e Tax and Instalment taxes- (for taxable clients only)
We develop measures that ensure maximisation of tax savings and compliance including review of previous tax payments for recoveries, pending tax demand notices and mitigating against assessments. We will also consider legal tax arrangements that favour business cash flow. Preparation of tax computations and completion of the tax returns for company and the employees.
This service is available for both companies and individuals.
PAYE
This includes; Payroll management, processing of Pin certificates for institutions and staff, Preparation and payment of PAYE tax, Submission of annual PAYE returns and calculation of the tax liability on lump sum payments.  We shall propose tax effective employment benefits including arrangements to minimize tax burden for employees, top management and the organisation.
Tax Contingency Audits
Carrying out independent tax reviews to cover Vat, Income Tax, PAYE, Withholding tax etc to establish the potential tax exposure and advice on corrective measures. We also advice, guide and/or represent our clients on mitigations against excessive tax assessment by KRA.
Tax planning services
Providing proactive and regular advisory services to management for decision-making purposes. Participating in clients’ management and board meetings, on invitation, where major corporate policy decisions are made to ensure that possible tax implications are well considered.

 

 

 

 

 

 

 

 

 

 

Withholding Vat and Tax.
Establishing proper systems to account for withholding Vat and withholding tax paid or suffered, Organizing timely tax payments and submission of required tax returns.
NSSF and NHIF management
Undertaking the registration, management of the regular deductions and their submission to the relevant authorities. We process claims and keep updated records to facilitate employees’ claims.
Training services
On invitation, we will provide specific tax training for staff handling finance and human resource issues to ensure they are adequately conversant with the current tax legislation to avoid omissions in their day-to-day tasks.
Tax being a very dynamic discipline, the training will cover all the current issues considered relevant and unique to your organisation.
VAT- (for eligible clients only)
Client registration and deregistration, Preparation, submission and following up of returns and tax refund claims, Analysis of KRA assessments, Maintenance of records, processing of tax compliance and exemption certificates, processing of income tax and Vat exemptions
Others
We also provide general business advisory and support services including work permits and other diplomatic protocols statutory audit services, financial management.

 




The last 10 years have seen marked improvements in the operation and administration of VAT. The regional governments’ policy over the last few years has been to shift revenue dependency from direct to indirect taxation, particularly VAT. The Revenue Authorities have in the recent past stepped up their efficiency in enhancing collection of VAT, which has raised issues for a number of companies that had not previously been foreseen.
VAT Compliance
Compliance with the law is not always as simple as one would assume it to be. The main areas of difficulty are usually keeping abreast with the changing legislation and the interpretation of the law.
Our VAT professionals keep track of all VAT changes, both legislative and administrative. We endeavour to share this information with all our clients through regular updates and publications such as, “Tax Talk”. We also update the VAT Act on an annual basis to ensure that our clients benefit by having the most up to date VAT legislation in the region.

VAT Sure
We have developed a comprehensive VAT assurance and compliance review programme, VATSure, that ensures, above all else, that our clients are in full compliance with the VAT law. VATSure also determines the likely exposure that our clients may have and devises solutions for the exposure to be minimised or eliminated. A major benefit of VATSure has been the tax savings measures that are usually identified. Training acquired by client staff, the security derived by management from the knowledge that exposure is limited and the time saved by management by not having to worry about routine VAT issues, has had profound positive effects on those who have undertaken a VATSure exercise. In many cases tax savings from VATSure exceed the cost of the exercise and could be self-funding.
VAT Refunds
The law requires that all VAT refund claims, exceeding certain limits, be audited by certified accountants. Our VAT specialists undertake such audits for the benefit of our clients. As part of value adding, we advise on the most beneficial ways of accounting for VAT and other activities that the company may require to undertake to ensure speedy payment of refunds. We liaise with the VAT department to ensure that there is no undue delay in remittance of these refunds.

VAT Planning
An area of VAT that many companies neglect is planning. Our VAT specialists assist clients in planning VAT matters, specifically in:

  •  Enhancing input tax recovery
  • Local purchases
  • Local sales
  • Imports and exports
  • Stocks control
  • Billing
  • Payment for supplies
  • Inter-company transactions
  • Promotions and marketing
  • Benefits to staff
  • Accounting records and procedures

We offer clients practical planning ideas that greatly enhance cash flow management and input tax recovery.

Services we offer:
International (Cross -Border) Tax Planning | Wealth Management | Accounting | Internal Audit |
Tax Exemption Certificates | VAT Filling |Work Permit Processing | Management Consulting| Tax Compliance Certificates|
Tax Health Check, KRA Audits| Software Training and Implementation and Financial Advisory Services.

Copyright 2009