2.5 million have three days to file tax returns

More than 2.5 million Kenyans have three days to file their tax returns before the June 30 deadline or face fines from the Kenya Revenue Authority (KRA).

KRA data shows that about five million people had filed their returns by June 27, against 7.5 million in its database.

The five million figure is 16 percent more compared to the same period last year.

is reading: 4.4 million Kenyans file tax returns before the deadline

Failure to meet the deadline is an offense which attracts a fine of 10,000 shillings or 25 per cent of the wage-earners’ tax bill, 5,000 shillings if sales tax is paid by SMEs, and 20,000 shillings or five per cent of the tax liability on other business income.

Corporations face a fine of 20,000 shillings or five percent of the tax due in the year in which the return is recorded, or whichever is higher.

“Some 5 million taxpayers have filed their tax returns as of June 27, which is 16 percent more than those who filed in the same period last year,” the tax officer said on Tuesday.

It reported on Thursday last week that the TRA processes more than 120,000 files a day. Annually, daily numbers have been known to rise closer to the deadline.

Filling returns has emerged as one of the preferred ways for taxpayers to net tax fraud and grow income tax brackets amid struggles to meet collection targets.

The law requires anyone with a personal identification number to file returns regardless of employment status.

is reading: The KRA should be talking about tax refunds

The KRA missed revenue collection targets by Sh27 billion in the three months to December amid President William Ruto’s aggressive campaign to weed out tax evaders and increase receipts.

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