Top SME Tax Compliance Tips for Kenyan Businesses in 2024
SME tax compliance in Kenya is not just a legal requirement—it’s a critical aspect of business sustainability. For small and medium-sized enterprises (SMEs), navigating the complex tax landscape can be challenging, but with the right strategies, businesses can minimize their tax liabilities and avoid costly penalties. This blog explores key strategies for mastering SME tax […]
CS Treasury : A New Era of Economic Reform
The appointment of Hon. John Mbadi as Kenya’s new Cabinet Secretary for Finance and Economic Planning marks a pivotal moment for the country’s economic future. With a national debt exceeding KES 10 trillion, the CS has outlined a bold agenda to drive economic reform, focusing on tax amnesty and VAT rationalization. This blog delves into the proposed amendments and their potential impact on Kenya’s financial landscape, offering insights into the measures that could reshape the nation’s economy.
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 […]
Understanding the basics of IFRS 9;Financial instruments.
IFRS 9 is an International financial reporting standard published by the International Accounting Standards Board (IASB) to address the accounting of financial instruments. It covers 3 areas;
Financial Governance for Family Business.
What does Financial Governance for Family Business entail? Below are the critical aspects of financial governance in family businesses. Financial Accountability – Accounting for all the Financial Transactions. It will entail maintaining clear records of all incomes of Family Business, Expenses, Business Assets, Liabilities, and Equity Contribution from Family Members. Family Business to Prepare Management […]
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 […]
Kenya Finance bill 2019
In order to amend the existing tax laws and fiscal policies, the parliament of Kenya has passed
the Finance Act 2019 affecting various key tax provisions. Below are the major main changes that might affect entities operating in Kenya and their international parties;
