How to Benefit from Tax Amnesty 2024 Extension in Kenya

The Tax Procedures (Amendment) Act, 2024, brings excellent news for taxpayers in Kenya. The extended tax amnesty program provides a unique chance to clear outstanding tax liabilities without incurring penalties, interest, or fines.

This guide covers everything you need to know about the amnesty program, eligibility, benefits, and steps to take advantage of this opportunity.

What Is the Tax Amnesty Program?

The tax amnesty program offers relief on:

  • Interest
  • Penalties
  • Fines

All you need to do is settle the principal tax owed, ensuring a fresh start and improved tax compliance status.

Eligibility: Who Can Apply for the Tax Amnesty?

Taxpayers are eligible for the amnesty if they meet the following conditions:

  1. Tax Liabilities Timeline: Penalties, interest, and fines due before 31st December 2023.
  2. Principal Tax Payment: Must pay or commit to paying principal tax on obligations such as:
    • Income Tax
    • PAYE
    • Withholding Tax
    • Capital Gains Tax
    • VAT
    • Excise Duty
    • Legacy balances
  3. Exclusions: The amnesty does not apply to customs duty.

Amnesty Period: Important Deadlines

The window to take advantage of the tax amnesty runs until 30th June 2025. Act early to ensure you don’t miss out on this opportunity!

Why Should You Take Advantage of the Tax Amnesty?

Here are the top reasons why the 2024 tax amnesty is a game-changer:

  • Save Money: Clear tax debts without the added burden of penalties and interest.
  • Improve Compliance: Secure a better Tax Compliance Status, essential for businesses and individuals.
  • Peace of Mind: Stay compliant and avoid future complications with tax authorities.

Steps to Take Advantage of the Tax Amnesty

  1. Review Your Tax Liabilities: Identify any outstanding tax debts.
  2. Consult a Tax Professional: Engage an experienced tax consultant to guide you through the process.
  3. Make Payments: Ensure your principal tax payments are completed by 30th June 2025.
  4. Confirm Compliance Status: Work with your consultant to update your compliance records.

Why Work with Ronalds Africa?

At Ronalds Africa, we specialize in Tax Advisory, Tax Planning, and helping businesses navigate compliance challenges. Our experienced team will ensure you maximize the benefits of the 2024 tax amnesty.

📩 Contact us today at tax@ronalds.co.ke to get started.

Key Takeaways

The extended tax amnesty program is a golden opportunity for individuals and businesses to clear their tax debts and achieve financial freedom. Don’t wait—act now to avoid missing the 30th of June 2025 deadline!

Written By Sarah Muli

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