Industry Insights:
Navigating Industry Trends and Challenges
Stay abreast of the latest industry trends, regulatory updates, and strategic insights through our Industry Insights. Our team of experts compiles valuable information to keep you informed and equipped for success in a dynamic business environment.
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- Regularly Updated Insights
- In-Depth Analysis
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- Practical Applications for Businesses
Blogs:
Connecting Virtually, Learning Continuously:
Explore a treasure trove of knowledge and perspectives through our Blogs. Written by our seasoned professionals, these articles delve into diverse topics such as tax strategies, audit best practices, advisory insights, and the transformative power of business technology.
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Featured Insight
Tribunal Declines Jurisdiction Over Late-Filed Tax Appeal
Tribunal Declines Jurisdiction Over Late-Filed Tax Appeal The Appellant taxpayer, an employee of the World Health Organization (WHO), challenged an income tax assessment issued by the Kenya Revenue Authority (KRA). The assessment covered income tax for the years 2018–2020, amounting to KES 39,799,180. He objected, arguing that his salary and emoluments from WHO were tax-exempt under various international agreements,
Understanding Audit Risk: A Crucial Element in Financial Auditing
In the world of financial auditing, the concept of audit risk is foundational. It represents the possibility that an auditor might issue an incorrect opinion on a set of financial statements, failing to identify material misstatements
IFRS 16 Amendment- Sale and Leaseback Transaction
International Accounting Standard Board (IASB) issued amendments concerning requirements for sale and leaseback transactions in IFRS 16. It explains how a seller-lessee accounts for a sale and leaseback after the date of the transaction
Withholding Income Tax Regime in Kenya
Withholding income tax is a tax deducted by a person making specific payments prior to paying the amount due and then remits the tax so deducted to the Kenya Revenue Authority within 5 working days after the deduction is made.
The Power of Transformation in Uncertain Times
While it may seem paradoxical, businesses should be exploring the potential of transformation to improve their performance and capacities during difficult economic times. We provide insight to the difficulties that African Businesses within the eastern and central Africa face in establishing operational resilience.
KRA's Legacy Balance Migration: Ensuring Compliance Before the Deadline
The Kenya Revenue Authority (KRA) through its public notice issued on 31 July 2024 informed taxpayers of its ongoing exercise of migrating legacy balances for Value Added Tax (VAT) and Income Tax onto the iTax system.
Updates from KRA on Meal Benefit Taxation
The Kenya Revenue Authority (KRA) issued a technical circular on April 4, 2024, to provide clarity on their interpretation of Section 5(4)(f) of the Income Tax Act (ITA), which deals with the taxation of meal benefits for employees.
Understanding Audit Risk: A Crucial Element in Financial Auditing
In the world of financial auditing, the concept of audit risk is foundational. It represents the possibility that an auditor might issue an incorrect opinion on a set of financial statements, failing to identify material misstatements.