Finacial | Audit. Tax. Advisory

Reporting & Tracking in SME Accounting

An accounting report is a financial report that shows a company’s historical and current financial situation. Accounting reports are used by different stakeholders in the business, for example, customers to know the performance of a particular organization, suppliers to understand whether the organization is in capacity to pay them for goods and services provided, and […]

FINANCE ACT 2022 VAT AMENDMENTS ON DIGITAL MARKET PLACE

The Finance Act 2022, amended the VAT on the digital economy by redefining the terminology digital marketplace. In addition, the Act deleted the provision of accounting for reverse VAT for business-to-business transactions in the digital economy under section 10 of the VAT Act 2013. Digital marketplace supply is defined by the VAT Act 2013, as [...]

Finance Act 2022

On 21st June 2022, The President of the Republic of Kenya assented The Finance Act 2022 into law and was published by the Cabinet Secretary, Ministry of National Treasury on Thursday, 23rd June 2022. This Finance Act has introduced a raft of tax measures to amendment The Income Tax Act, Value Added Tax Act, Excise […]

How the Kenya Finance Act 2021 affected financial institutions.

https://www.ronalds.co.ke/wp-content/uploads/2021/09/Finance-act-affecting-Financial-institutio.mp4 Highlights of the finance act 2021 changes affecting financial institutions. The Finance Act, 2021 that was recently passed has several implications to Financial Institutions. Financial Institutions means a person licensed under; The Banking Act (Cap. 488); The Insurance Act (Cap. 487); The Central Bank of Kenya Act (Cap. 491) or; The Microfinance Act, 2006 […]

DRAFT VAT REGULATIONS ON SUPPLY OF DIGITAL SERVICES

DRAFT VAT REGULATIONS ON SUPPLY OF DIGITAL SERVICES ask for tax help With the digital transformation of many businesses across the globe, the taxation system keeps transforming too in different countries. However, some changes are hard to implement. In this case, taxing the digital economy has been quite a challenge for over a decade. The […]

RETIREMENT BENEFITS AUTHORITY AND COVID-19 Raonalds LLP - We are a professional firm dealing with: audit, tax, and Advisory services in Kenya. We use cutting edge technology solutions to deliver results.

RETIREMENT BENEFITS AUTHORITY AND COVID-19

RETIREMENT BENEFITS AUTHORITY AND COVID-19 Many employers and employees will want to know what is this all about the RBA and the  impact does has in the industries especially with the COVID-19 Pandemic -Retirement Benefits Authority (RBA) is a regulatory body under the National Treasury, established under Retirement Benefits Act. The Retirement Benefits Act was [...]
IFRS-international Financial Reporting Standards

SUMMARY OF THE INTERNATIONAL FINANCIAL STANDARDS- IFRS 9

Summary of the financial reporting standard IFRS 9 - Financial Instruments Welcome to Ronalds LLP IFRS bulletin. In this bulletin, we provide you with a high-level summary of the financial reporting standard IFRS 9 clearly pointing out the distinction between IFRS 9 and its predecessor, IAS 39. The International Accounting Standards Board (IASB) issued this [...]
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