Kenyans in Diaspora Told to Take Advantage of the Tax Amnesty Program
The Kenya Revenue Authority (KRA) has announced a game-changing opportunity for Kenyans in the diaspora with the introduction of a tax amnesty program under the Finance Act 2023.
Here are the key takeaways that could significantly impact those with financial ties to Kenya:
Global Reach of the Amnesty
The tax amnesty program extends its benefits to Kenyans residing abroad. This initiative aims to provide relief to individuals who may have outstanding tax obligations up to December 31, 2023.
Full Waiver on Penalties and Interest
A notable feature of this amnesty is the complete waiver of penalties and interest on all taxes accrued until the specified date. This provides a unique opportunity for individuals to settle their tax liabilities without the burden of additional financial charges.
Deadline for Action: June 2024
To enjoy the full benefits of the amnesty, individuals must file their tax returns and clear any principal taxes by June 2024. This deadline allows for a reasonable timeframe for compliance.
Flexible Payment Plans
Recognizing the diverse financial situations of those in the diaspora, the KRA allows for a preferred payment plan. Taxpayers can propose instalment payments provided they conclude all payments before the June 2024 deadline.
No Interrogation on Non-Payment Reasons
In a move towards simplicity, the KRA emphasizes that individuals need not provide reasons for delayed tax payments. The primary focus is on clearing the principal taxes to qualify for the amnesty.
Encouragement for Early Compliance
The KRA strongly encourages early compliance, urging individuals to file their returns promptly. Doing so not only ensures a flexible payment plan but also automatically grants a waiver on penalties and interest. The KRA offers support through various channels, including its website resources and call centres. The aim is to help individuals in the diaspora, ensuring they have the necessary information and assistance to meet their tax obligations.
This tax amnesty program presents a golden opportunity for Kenyans in the diaspora to regularize their financial standing with the Kenyan government. By taking advantage of the flexible terms and proactive support from the KRA, individuals can navigate this process with relative ease.
Recognizing the vital role of the Kenyan Diaspora in the growth of the nation, the Government has formulated the Kenya Diaspora Policy to enable overseas citizens to contribute meaningfully to the development of the Kenyan Economy. In collaboration with the International Organization for Migration (IOM), the Ministry of Foreign Affairs has created a digital handbook on remittances and investments.
Titled "Send money & invest in Kenya: A guide for Diaspora Remittances & Investments," this comprehensive booklet systematically presents and explains a variety of affordable remittance channels, as well as opportunities for saving and investing, in a manner that is both informative and user-friendly.
Comments
I have never had a KRA…
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I have never had a KRA number and never will! I pay my damn taxes to the country that gave me opportunities in life, where all I own is due to my new country, my home, … The United States 🇺🇸!!!
Ha ha haaa haaaa. Good…
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Ha ha haaa haaaa. Good dreams. It is not bad to have good dreams. The only thing I have a problem in Rutos dreams is that he is a day-dreamer. So they said they got empty coffer. Mmmmm!!! Yet, I mean yet bought 160m Mercedes Benz, and Riggy G Mavi ya kuku replenished his fleet with several high end fuel guzzlers. I hope the corrupt Kenyan Embassy in Washington DC are listening to MjuAji's tirades and rants. I suffered during Kenyatta and Moi regimes getting no promotion simply because with my education, I came from a pauper, peasant, the poor of the poor, the remotest part of RV. While the KANU bigwigs, boot-lickers, stalwarts, ministers, PCs, DCs, etc were sending their children to US and European universities on fully funded government scholarships, with a sort of bank stationed at Kenyan Embassy in Washington for ease of tuition and stipends collection, MjuAji gazed in horror as they drove new cars. Cut the story short, I survived through working multiple jobs to cater for my living expenses, tuition, horning a beaten-up Mitsubishi Precis with some use of MVA buses, subways and rides. Within a period of two years, America rejuvenated my down-troddened personality, gave me a new me through hard work, and now they want me to pay them taxes. Ambasodor are you listening? Ng'o from MjuAji. I don't need Kenya at this point in time. A country of thieves, craftmanship, looters, and conmen/women. Too late. Tafuteni wengine wa kupora. Bye bye
What's this? Tax Amnesty?
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What's this? Tax Amnesty?
Where does the tax money go?…
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Where does the tax money go? The answer is in the extremely fat bellies of the politicians and the senior government officials. Look at their lifestyles, look at the wastage and extravagance in the so called public service, it is simply nauseating. Best of luck to KRA in collecting more loot from a people already fleeced to death through indirect taxes.
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