![]() ![]() Prior to this change turnover tax was computed using the graduated tax bands.įurthermore, this amendment removes the K3,000 exemption that was applicable under the graduated tax bands. Therefore, the tax payable will be calculated by applying 4% on the total turnover. This amendment introduces a flat rate of 4% for turnover tax. The Ninth Schedule to the principal Act is amended by the deletion of Part II and the substitution therefore of the following: Royalties paid to non – residents, etc.Public Entertainment Fees paid to non – residents.Payments made to non – resident contractors.Management and Consultancy fees paid to non – residents.Interest earned on Treasury Bills for Charitable Institutions and other exempt persons.– Any person whose business earnings are subject to withholding tax and it is the final tax, such as:. – Any person who is involved in mining operations as provided under the Mines and Minerals Development Act. Any person whose turnover is K800, 000.00 or below and is voluntarily registered under Value Added Tax (VAT).Consultancy fees are not part of Turnover Tax as per Amendment to the Income Tax Act # 1 of 2005.Partners are distinct from the firm (partnership) as stipulated by Section 4 of the Partnership Act of 1890. This is because it is the partnership that carries on business and not the partners. Partners’ income from the partnership is also excluded from Turnover Tax. Partnerships carrying on any business irrespective of whether the annual turnover is K800,000 or less.Any individual or partnership carrying on business of public service vehicle for the carriage of persons.Any person carrying on a business with an annual turnover of more than K800,000.00.Importation Of Foreign Registered Motor Vehicles For Visitors, Tourists and Travelers.Invitation of applications for Customs Licenses.
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