NHIF rates increased from April 2015

The National Hospital Insurance Fund (NHIF) Board gazetted new NHIF contribution rates on 6th February 2015.

The new rates take effect on 1 April 2015 and range from KShs 150 – KShs 1700 depending on the contributor’s monthly gross income.



We advise employers to amend their payroll and deduct NHIF contributions based on the new rates, beginning with the payroll for April 2015.

The deductions should be remitted to NHIF by the 9th of the subsequent month. Failure to do so attracts a penalty of five (5) times the contribution due.

Contact us in case you need more information or assistance:


East African Tax Consulting
Branton Court, Ndemi Lane (off Ngong Road)
Nairobi, Kenya
+254722332729
starlings@taxeac.com

Tax and Regulatory Compliance for Not for Profit Organisations in Kenya

These slides summarize the Tax and Regulatory compliance requirements for NPOs/ NGOs/ PBOs in Kenya as at March 2015.





Contact us:
East African Tax Consulting
Branton Court, Ndemi Lane (off Ngong Rd)
Nairobi, Kenya
+254722332729
starlings@taxeac.com

Tax Alert! Capital Gains Tax Guidelines

The commissioner of income tax has issued guidelines on collection and accounting for Capital Gains Tax (CGT) on land, buildings and marketable securities.

This Alert looks at some of key aspects of the guidelines and implications thereof.



East African Tax Consulting
Tel: +254 722 332729
Email: starlings@taxeac.com
Contacts: Starlings Muchiri, Samuel Karanja

Capital Gains Tax (CGT) Declaration Forms

Withholding VAT makes a comeback!

The Finance Act 2014 reintroduced withholding VAT (WHVAT) with effect from 19 September 2014.

VAT is withheld on taxable supplies to government ministries, departments or agencies.

The rate of WHVAT is 6% of the taxable supplies.

WHVAT does not apply to exempt supplies, zero-rated supplies and donor aid funded projects.

KRA has published notices in national newspapers providing directions on collection, accounting and remittance of WHVAT.


See the Tax Alert below for more information:




OUR CONTACTS-

Email: starlings@taxeac.com
Tel: 0722332729
Website: www.taxeac.com

Capital Gains Tax in Kenya - The 8th Schedule

As you are well aware, the Finance Act 2014 reinstated Capital Gains Tax in Kenya by resurrecting the 8th Schedule to the Income Tax Act.

Below is the text of the 8th Schedule:






Do not hesitate to talk to us if you have any queries- East African Tax Consulting Mobile: +254 722 332729 Email:starlings@taxeac.com

The NSSF Act 2013 - What employers and employees need to know!

President Uhuru Kenyatta assented to the National Social Security Fund Act, 2013 (Act No 45 of 2013) on 24 December 2013. The Act commenced on 10 January 2014.

The Act introduces a Pension Fund and a Provident Fund, provides for contributions to the fund and benefits to be paid out of the fund.

The Act introduces a progressive, wider scope and portable social security system. It also provides for the closure of the old social security system within 5 years.

Download the full Tax Alert below:





East African Tax Consulting
Mobile: +254 722 332729
Email: starlings@taxeac.com
Contacts: Starlings Muchiri, Samuel Karanja