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VIDEO: You won’t be taxed if you haven’t been in Kenya for at least 183 cumulative days in one year, KRA tells Diasporians

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In a statement to jambonewspot.com Thursday, the agency said earning income abroad does not exempt you from declaring the same since such income may be deemed to be accrued or derived from Kenya.

The agency also clarified that assets or property acquired, situated and held abroad by Kenyan citizens should be declared if proceeds derived from those assets are intended to be repatriated and invested in Kenya.

Watch related video below courtesy of KTN News:

 

“If you are a tax resident in Kenya earning income abroad that is deemed to be accrued or derived from Kenya, then such income should be declared for amnesty if you had not declared it before,” said Leah Achieng with the KRA Domestic Taxes Department.

KRA’s guidelines provide that if one is considered a tax resident in Kenya some of the income earned abroad may be deemed to be accrued in or derived from Kenya and would therefore be also taxable in Kenya if the person earning it is considered a tax resident in Kenya.

One is considered a tax resident of Kenya if the following apply:

• (i) That a person has a permanent home in Kenya and was present for any period in the particular year of income under consideration; Or
• (ii) That he has no permanent home in Kenya but :-
o (a) Was present in Kenya for a period or periods amounting in aggregate to 183 days or more in that year of income Or
o (b) Was present in Kenya in that year of income and each of the two preceding years of income for periods averaging more than 122 days in each year of income.

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Ms Achieng also added that the law however sometimes provides for relief from double taxation where the income has been taxed abroad.

“For instance, where a Kenyan citizen earns employment income from another country, or income as an entertainer or athlete from another country and that income was taxed in that country, the person can claim relief for the tax paid in that other country when making a declaration in Kenya hence there will be no double taxation.” she said.

She also added that where Kenya has signed a double tax avoidance agreement with another country, a person whose income has been taxed in that country can claim relief for that tax under the treaty and as such double taxation will not arise.

Kenya is a signatory to the Convention on Mutual Administrative Assistance in Tax Matters which is meant to promote tax co-operation to tackle tax evasion and avoidance. This co-operation includes exchange of information and recovery of foreign tax claims.

“We are currently awaiting ratification of the Convention.” she said.

jambonewspot.com

 

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Kenya’s Chief Justice David Maraga jets into US for 2018 Diaspora Conference which opens Friday

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BY BMJ MURIITHI

Kenya’s Chief Justice, David Maraga, arrived in Dallas, Texas, Wednesday in readiness for the 2018 Kenya Diaspora Conference which opens this Friday and runs through Saturday. Justice Maraga will be the guest speaker at the much publicized annual event, which will be held at The University of Texas. (Address: 800 West Campbell Rd, Richardson, TX 75080-3021)

The judge was met by Association of Kenyan Diaspora Organisations Inc (AKDOI) chairman, Mr David Ochwang’i, and other officials.

The Conference is a collaboration of Kenyans in America and their affiliated organizations that form the AKDOI.

According to Mr Ochwang’i, the primary focus is to advance our the common welfare of Kenyans in the Diaspora. The Conference theme this year is “The Diaspora Renaissance –Optimizing engagement with the Motherland”.  

“We have been doing this annually but this year’s conference has moved to another level,” he told this reporter.

“It is an annual tradition where business leaders, government officials in both the United States and Kenya as well as other organizations meet and engage with each other, gain potential clients and potential development partners and establish long-term business and professional partnerships for growth,” writes Ochwang’i on the organization’s website.

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“For us in the Diaspora, it is an opportunity to showcase our own progress in advancing our common welfare particularly in our economy and investments, governance and culture,” he adds.

Topics up for discussion this year include business and investment opportunities of mutual interest including Governance, Cultural exchange, Banking, Healthcare, Tourism, Africa Growth & Opportunity Act (AGOA), Real Estate, public infrastructure, Women and Youth and Diaspora representation.

Other speakers includethe MD of Karibu Homes, Ravi Kohli, Attorney Elizabeth Plumlee and Mr Gregory Pappas of Capital Group. Entertainment will be provided by musician Kepha Bwonda.

 

Below is a message from the event organizers :

The Association of Kenyan Diaspora Organizations, Inc.(www.akdoi.org ) and the Kenyan Women in The US (KWITU) invite you to the 2018 Kenya Diaspora Conference scheduled for Friday May 25 and Saturday May 26, 2018 at The University of Texas at Dallas, 800 West Campbell Rd, Richardson, TX 75080-3021(http://www.utdallas.edu/conference/ ).

On Monday, the CJ met with Hon. John G. Roberts Jr., Chief Justice of the United States at the Supreme Court in Washington DC. “We consulted on issues of mutual interest in the administration of justice in our countries,” he said.

Justice Maraga poses for a photo in Dallas, Texas. Behind him is a poster of former US president, George W Bush and his wife, Laura Bush. PHOTO/COURTESY.

 

READ ALSO:   3 relatives in court over theft of Sh50m from Thika Bank

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Swahili Village closed indefinitely following fire damage

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In the early morning hours of Monday, May 7, 2018, there was a fire outbreak in the Kitchen of Swahili Village Bar and Grill. The fire was put out shortly after and there were no injuries. Due to the damage to the interior of the restaurant, Swahili Village bar and grill located at 10800 Rhode Island Avenue, Beltsville, Maryland will be closed until further notice.

Swahili Village Fire

Following the incident, Mr Kevin Onyona, the restaurant proprietor wrote on Social media:  “We hope to be up and running in the next two to three months. This is due to some substantial damages that will need to be repaired. Please continue to check on our social media pages for updates and news regarding the re-opening”.

Swahili Village Fire

Swahili Village has been providing a much-needed fine dining experience of Kenyan cuisine in Beltsville. Beltsville, Maryland is a hub of major industry pioneers and government agencies like  NASA, U.S. Department of Agriculture among others. Swahili Village’s clientele has grown to include a broad spectrum of ethnic cuisine enthusiasts from the African diplomatic missions, African diaspora and the general public with bookings for birthdays, weddings, anniversaries, and graduations celebrated in the mahogany wood finished interior with an elegant ambiance. This year Swahili Village is celebrating its nine-year anniversary since its inception in 2009.  The new Swahili Village location, now in its second year, has been highly rated and positively reviewed on Yelp, Foursquare, Yellow Pages and a multitude of foodie sites.

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The Swahili Village team is looking forward to once again serving our customers and offering you the True Taste of Kenya that you as our loyal clients have grown to love. We appreciate the prompt response by the Prince Georges county emergency team which includes the Prince Georges County Police Department and the Beltsville Fire Department. A huge thank you goes to our well wishers for your support as we work towards reopening.

 

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FEP woes intensify as CEO Korir fired after serving for 2 years, Kithaka returns

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Diaspora-backed investment firm FEP Holdings has sent chief executive Maurice Korir packing nearly two years after tasking him with restructuring the chama.

Previously long-serving founding chief executive John Kithaka has reoccupied the position. Mr Kithaka quit in October 2016 following Mr Korir’s promotion.

Mr Kithaka had been at the helm of the financially haemorrhaging investment group for more than a decade while Mr Korir was the chief operating officer.

“FEP Holdings Ltd board of directors wishes to announce the resignation of the chief executive officer, Mr Maurice Kimutai Korir effective March 8, 2018,”read a statement.

“The board has appointed Dr John Muchira Kithaka to the position of the group executive director with immediate effect.”

Maurice Korir. PHOTO/COURTESY.

The firm’s board linked the management shake up to need to conform to a changing investment landscape.

“The board wishes to assure shareholders and stakeholders, both local and in diaspora, that the corporate leadership changes are aimed at aligning and strengthening the group’s organisational structure to ensure we meet evolving investor expectations,” it said.

The Sh4.4 billion asset chama has faced a string of troubles in the last few years.

Founded in 2002, it has a membership of 70,273 investors, with a significant stock held by Kenyans residing in the UK and US.

READ ALSO:   3 relatives in court over theft of Sh50m from Thika Bank

FEP’s multiple projects including a planned 146-bed hotel in Sagana, Kirinyaga County, have missed completion deadlines for lack of capital.

Mr Kithaka will be charged with finishing stalled projects and revamping the chama. Its planned rights issue collapsed while plans to acquire a majority stake at Credit Bank, controlled by the Nyachae family, also failed.

The Central Bank of Kenya in 2016 declined FEP’s bid to take control of the bank after raising queries on the chama’s share register and ability of its financial muscle to adequately capitalise the small lender.

The banking sector regulator had raised similar ownership and capital concerns early the same year in denying the investment group a licence to operate a deposit taking microfinance bank, despite a temporary approval.

FEP was rocked by fraud in 2016 and hired an asset recovery agent to pursue six former senior managers and confiscate Sh67 million allegedly stolen from the organisation.

A forensic audit on the investment group’s operations by KPMG had revealed then that half a dozen top executives were discreetly siphoning cash meant for projects and investments. Prior to joining FEP in 2014, Mr Korir was chief operating officer at publicity firm Ogilvy.

-Business Daily

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