Kra form 2007-2025

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The document is a tax return form for individuals in Kenya, specifically for the year 2007. It outlines the requirements for filing income tax returns, including deadlines, penalties for late submission, and detailed sections for reporting various sources of income such as business, farming, rent, interest, and employment. The form also includes instructions for providing personal information, calculating taxable income, and declaring any partnerships or directorships. A declaration section at the end requires the taxpayer's signature to confirm the accuracy of the information provided.

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What happens if you dont pay KRA?

Failure to pay tax on due date. Penalty - 20% of tax involved is charged. Offence - Failure to file annual returns by the due date. Penalty - Additional tax equal to 5% of the normal tax, or Ksh.

How does file KRA return?

First, you need to login into the system then go to the returns tab and select file return and download the return. You need to fill the return offline before you generate a zipped file that you will upload.

How does KRA work?

The person making the payment deducts tax prior to paying the amount due. The tax withheld/deducted is then remitted to the KRA. The payer is required to generate a withholding tax certificate on iTax which is automatically sent to the payee once the payer remits the withholding tax to KRA.

What is KRA and how does it work?

KRA was established as an Act of Parliament, Chapter 469 of the Laws of Kenya. It is charged with the responsibility of collecting revenue. After independence, other taxes were introduced, such Income Tax, Corporation Tax, Trade Taxes, Excise Taxes and Customs Offices.

How does withholding tax work?

Understand tax withholding An employer generally withholds income tax from their employees paycheck and pays it to the IRS on their behalf. Wages paid, along with any amounts withheld, are reflected on the Form W-2, Wage and Tax Statement, the employee receives at the end of the year.

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